Building Windows standalones on Mac with LC 9.6.4 or later - apps not launching?

[Ben Rubinstein]

Has anyone else encountered an issue building Windows standalones from LC 
9.6.4 or 9.6.5 on Mac?

What I'm seeing is that the process is suspiciously fast; but generates the 
expected files (.exe, the various dlls); and the .exe is the expected size, 
almost identical to what is produced under LC 9.6.3.

However when this is moved to a Windows machine:

- attempting to open in the Explorer simply nothing happens.

- attempting to launch the standalone from command line is met with the 
message "Access is denied" (although security properties allow Read&Execute).

Symptoms are exactly the same whether the standalone was built for x86 or 
x86-64. Same if built from either LC 9.6.4 and on LC 9.6.5 (rc 1).

Before I report this in the LQCC and make myself look stupid - has anyone else 
built a Windows standalone from Mac on LC 9.6.4 or later, and did it work?

TIA,

Ben