I've made the guide you mention and I've also compiled the AOLServer in question. I've been experiencing hangs as well. I didn't investigate it deeply (at all, really) but I would say this is AOLServer's fault. It's based on a beta version of upcoming (?) version 4 of AOLServer which probably hasn't been tested by anyone too much and as such is likely to be not very robust. I fixed a couple of bugs but there are probably more. If you find a win distro of 3.x version of AOLServer, you might try it instead.
Certainly don't try to run production servers on this code, it's fine for testing and development.
