The change to update.bat in revision 11729 missed a quote in the line that copies cb_console_runner.exe:
copy "%CB_DEVEL_DIR%\cb_console_runner.exe "%CB_OUTPUT_DIR%\cb_console_runner.exe" > nul
This generates an invalid path error, and should be:
copy "%CB_DEVEL_DIR%\cb_console_runner.exe" "%CB_OUTPUT_DIR%\cb_console_runner.exe" > nul
I have attached a patch (this patch also corrects some LF line endings).
Revision 11729 also makes my ticket 824 obsolete, please close it.