Are you using the LIB in the vclibs package?Debug puked by not finding a freetype object during linking, and release puked with some other linking error
Eh I guess not because it's GCC. However this error is a freetype problem, I got it when building freetype.lib as well.
You need to edit/comment out FT_USE_MODULE(otv_module_class) in ftmodule.h and rebuild.