I got it to compile tonight. I did the following:
1) Made a fresh clone from the main repo
2) Copied the allacrost-win32-depends directory to the main directory
3) Did an "add files recursively" operation on src/. Then I removed all files from src/editor
4) Making some small changes to the project file to add new source files (which I will commit to the main repo eventually)
It didn't run because it looks in the base directory for all the DLL files, but those can be easily copied over.
Anyway, this validates my earlier statement that something is wrong with your build environment (mingw stuff it looks like). It's hard for me to say what exactly is wrong with the mingw install on your system. Could be as simple as that you didn't download all the packages you needed for it. If you look at
this post where I initially reported I was able to build on Windows, the very first step says "make sure to check to install the gcc/g++ compiler". Did you do that?
If you still can't figure it out, let me know and I'll see if I can dig through my mingw install and figure out what packages I checked to install or whatever. I'm going to be working on updating the code::blocks project files. One thing I'm planning to do is to create a directory called build/ or lib/ or something for all the library files (instead of having allacrost-win32-depends). I'm also going to see if I can figure out how to point it to the DLL files in the lib/ directory instead of requiring the DLLs to be in the base directory to run the game.