The only clue I have is that when loading the fasl files (I've deleted and recompiled all these a bunch of times so I'm pretty sure there's nothing stale in here) I get the warning you can see at the bottom of this snippet - the style warning may be nothing but the GLUT warning looks ominous.
** SNIP **
STYLE-WARNING: Keyword :CALLING-CONVENTION is obsolete, please use :CONVENTION 2010-02-15 16:33:13.944 sbcl[766:903] GLUT Warning: invalid glutGet parameter: 124 NIL
So far I've concluded a value of 124 for glutGet means it's being passed an item from the cenum 'get-param defined in glut/state.lisp - 124 corresponds to the keyword :init-state. If glut is not being initialised then that would certainly explain it falling over. I don't get why this would change though? I'm digging through the headers that are included with my system-provided opengl to see if I can figure out what this value should be.
Malcolm