Hi Steve,
Good. It looks like removing the spaces in the code generation tools directory allows the compiler to be picked up.
I was able to successfully rebuild FC under my environment in Windows. The error you are seeing is saying that it cannot find the package 'ti.sdo.tools.build', which is located in your OSAL installation under C:/ti/osal_1_23_00_04/packages. Could you verify that this directory exists and that there is indeed a non-empty 'package' directory under 'C:\ti\osal_1_23_00_04\packages\ti\sdo\tools\build\package'? If not you'll need to reinstall the OSAL software.
If you are worried about mingw32-make, you can use gmake.exe under c:\ti\xdctools_3_23_03_53 instead, so that we are on the same page.
Best regards,
Vincent