Thanks!
I can't login on the Common Lisp GitLab because of the 2-factor-authentication. Since I can't answer Fare there, I'll do it here :)
As far as I understand, CLISP does not behave the same way as SBCL; while SBCL supports images that are both executable and loadable with --core, it's not the case for CLISP where `-M` fails to load an executable image.
Besides this change does alter the behaviour of `:executable t`, so the `uiop:dump-image ... :executable t` still generates an executable for CLISP.
Maybe there is a misunderstanding? :)
P.S.: What is `lisp-invocation`?