Thanks for doing most of the debugging on this.
After much banging of my head, I stumbled onto this very nice page of
common problems with compiled Macros in Emacs Lisp [1], it looks like
this sort of thing has happened before. :)
I realized I was guilty of one of the macro sins specified above, and
after rectifying that design flaw I believe (at least for my simple
test
case) this error should be fixed. Please let me know if you
continue to
run into this problem with the byte-compiled version of this macro.