@BananasGoMoo @chris_abyi the problem is that i forgot to mention one step to the installation for msys2. the libraries come with some dlls that the app need to run that are in /mingw32/bin
so you need to add that path to your PATH environment variable.
if you are in the msys2 console you can just do:
export PATH=$PATH:/mingw32/bin
but you would have to do it every time you start and wouldn't be able to run applications from explorer.
you can also add the equivalent PATH c:\msys64\mingw32\bin
to your PATH environment variable in windows:
http://geekswithblogs.net/renso/archive/2009/10/21/how-to-set-the-windows-path-in-windows-7.aspx
http://www.computertutorialsonline.com/change-path-environment-variable-in-windows-8
The problem with the .exe extension is now fixed in master and will be in tonight's nightlies