dynamic_library_path on Win32

I'm using CVS HEAD in a windows environment. I'm trying to start the
postmaster using "postmaster -c dynamic_library_path=C:/foo/bar". It starts
just fine, then, when I ask it to load a module, an error is generating
stating:

ERROR: component in parameter "dynamic_library_path" is not an absolute path

I added a trace to find out what it thinks the path is. It prints "C".
Obviously it treats ':' as a path separator somewhere. Is that the intended
behavior on win32?

Kind regards,

Thomas Hallgren