Commenting out that line and the same line for p3dembedw.exe passes the error.
But here is more verbose log for p3dembedw.exe:
Version: 1.9.0
Core API Version: 1.0.4.1
Using DirectX SDK June 2010
Using Python 2.7 build located at thirdparty/win-python
Using compiler: MSVC
Host OS: windows
Host arch: x86
Target OS: windows
Target arch: x86
Using thirdparty directory: thirdparty/win-libs-vc10/
WARNING: Could not locate thirdparty package fftw, excluding from build
WARNING: Could not locate thirdparty package opencv, excluding from build
WARNING: Could not locate thirdparty package awesomium, excluding from build
WARNING: Could not locate thirdparty package fltk, excluding from build
WARNING: Could not locate thirdparty package wx, excluding from build
Generating dependencies...
WARNING: file dependencies changed: ['built_seifi/models/maps/smiley.rgb']
WARNING: file dependencies changed: ['built_seifi/models/maps/smiley.rgb']
[T1] Building C++ object built_seifi/tmp/plugin_standalone_p3dEmbedMain.obj
cl /wd4996 /wd4275 /wd4267 /wd4101 /wd4273 /DWINVER=0x601 /Fobuilt_seifi/tmp/plugin_standalone_p3dEmbedMain.
obj /nologo /c /arch:SSE2 /Idirect/src/plugin_standalone /Idirect/src/plugin /Idtool/src/dtoolbase /Idtool/s
rc/dtoolutil /Idtool/src/pystub /Idtool/src/prc /Idtool/src/dconfig /Ipanda/src/express /Ipanda/src/download
er /Ibuilt_seifi/tmp /Ibuilt_seifi/include /Ithirdparty/win-python/include /Ithirdparty/win-libs-vc10/zlib/i
nclude /Ithirdparty/win-libs-vc10/openssl/include /Ithirdparty/win-libs-vc10/extras/include /DLINK_ALL_STATI
C= /MD /Zi /O2 /Ob2 /Oi /Ot /fp:fast /DFORCE_INLINING /Fdbuilt_seifi/tmp/plugin_standalone_p3dEmbedMain.pdb
/DBUILDING_P3D_PLUGIN /Zm300 /DWIN32_VC /DWIN32 -D_HAS_EXCEPTIONS=0 /GR- /W3 direct/src/plugin_standalone/p3
dEmbedMain.cxx[T2] Building C++ object built_seifi/tmp/plugin_standalone_p3dEmbed.obj
cl /wd4996 /wd4275 /wd4267 /wd4101 /wd4273 /DWINVER=0x601 /Fobuilt_seifi/tmp/plugin_standalone_p3dEmbed.obj
/nologo /c /arch:SSE2 /Idirect/src/plugin_standalone /Idirect/src/plugin /Idtool/src/dtoolbase /Idtool/src/d
toolutil /Idtool/src/pystub /Idtool/src/prc /Idtool/src/dconfig /Ipanda/src/express /Ipanda/src/downloader /
Ibuilt_seifi/tmp /Ibuilt_seifi/include /Ithirdparty/win-python/include /Ithirdparty/win-libs-vc10/zlib/inclu
de /Ithirdparty/win-libs-vc10/openssl/include /Ithirdparty/win-libs-vc10/extras/include /DLINK_ALL_STATIC= /
MD /Zi /O2 /Ob2 /Oi /Ot /fp:fast /DFORCE_INLINING /Fdbuilt_seifi/tmp/plugin_standalone_p3dEmbed.pdb /DBUILDI
NG_P3D_PLUGIN /Zm300 /DWIN32_VC /DWIN32 -D_HAS_EXCEPTIONS=0 /GR- /W3 direct/src/plugin_standalone/p3dEmbed.c
xx
p3dEmbedMain.cxx
p3dEmbed.cxx
[T1] Building C++ object built_seifi/tmp/plugin_standalone_p3dEmbedWinMain.obj
cl /wd4996 /wd4275 /wd4267 /wd4101 /wd4273 /DWINVER=0x601 /Fobuilt_seifi/tmp/plugin_standalone_p3dEmbedWinMa
in.obj /nologo /c /arch:SSE2 /Idirect/src/plugin_standalone /Idirect/src/plugin /Idtool/src/dtoolbase /Idtoo
l/src/dtoolutil /Idtool/src/pystub /Idtool/src/prc /Idtool/src/dconfig /Ipanda/src/express /Ipanda/src/downl
oader /Ibuilt_seifi/tmp /Ibuilt_seifi/include /Ithirdparty/win-python/include /Ithirdparty/win-libs-vc10/zli
b/include /Ithirdparty/win-libs-vc10/openssl/include /Ithirdparty/win-libs-vc10/extras/include /DLINK_ALL_ST
ATIC= /DP3DEMBEDW= /MD /Zi /O2 /Ob2 /Oi /Ot /fp:fast /DFORCE_INLINING /Fdbuilt_seifi/tmp/plugin_standalone_p
3dEmbedWinMain.pdb /DBUILDING_P3D_PLUGIN /Zm300 /DWIN32_VC /DWIN32 -D_HAS_EXCEPTIONS=0 /GR- /W3 direct/src/p
lugin_standalone/p3dEmbedMain.cxx
p3dEmbedMain.cxx
[T2] Linking executable built_seifi/bin/p3dembed.exe
link /nologo /MACHINE:X86 /NOD:MFC90.LIB /NOD:MFC80.LIB /NOD:LIBCMT /NOD:LIBCI.LIB /DEBUG /nod:libc /nod:li
bcmtd /nod:atlthunk /nod:atls /nod:atlsd /MAP:NUL /NOD:MSVCRTD.LIB /NOD:MSVCPRTD.LIB /NOD:MSVCIRTD.LIB /FIXE
D:NO /OPT:REF /STACK:4194304 /INCREMENTAL:NO /OUT:built_seifi/bin/p3dembed.exe /LIBPATH:thirdparty/win-pyth
on/libs built_seifi/tmp/plugin_standalone_panda3dBase.obj built_seifi/tmp/plugin_standalone_p3dEmbedMain.obj
built_seifi/tmp/plugin_standalone_p3dEmbed.obj built_seifi/tmp/plugin_standalone_dtoolbase_composite1.obj b
uilt_seifi/tmp/plugin_standalone_dtoolbase_composite2.obj built_seifi/tmp/plugin_standalone_lookup3.obj buil
t_seifi/tmp/plugin_standalone_indent.obj built_seifi/tmp/plugin_standalone_dtoolutil_composite1.obj built_se
ifi/tmp/plugin_standalone_dtoolutil_composite2.obj built_seifi/tmp/plugin_standalone_prc_composite1.obj buil
t_seifi/tmp/plugin_standalone_prc_composite2.obj built_seifi/tmp/plugin_standalone_dconfig_composite1.obj bu
ilt_seifi/tmp/plugin_standalone_express_composite1.obj built_seifi/tmp/plugin_standalone_express_composite2.
obj built_seifi/tmp/plugin_standalone_downloader_composite1.obj built_seifi/tmp/plugin_standalone_downloader
_composite2.obj built_seifi/tmp/plugin_common.obj built_seifi/tmp/libp3tinyxml.lib built_seifi/tmp/libp3d_pl
ugin_static.lib wsock32.lib ws2_32.lib comctl32.lib user32.lib ole32.lib shell32.lib gdi32.lib advapi32.lib
msimg32.lib thirdparty/win-libs-vc10/zlib/lib/zlibstatic.lib thirdparty/win-libs-vc10/openssl/lib/libpandass
l.lib thirdparty/win-libs-vc10/openssl/lib/libpandaeay.lib
Creating library built_seifi/bin/p3dembed.lib and object built_seifi/bin/p3dembed.exp
[T2] Building C++ object built_seifi/tmp/p3pandatoolbase_composite1.obj
cl /wd4996 /wd4275 /wd4267 /wd4101 /wd4273 /DWINVER=0x601 /Fobuilt_seifi/tmp/p3pandatoolbase_composite1.obj
/nologo /c /arch:SSE2 /Ipandatool/src/pandatoolbase /Ibuilt_seifi/tmp /Ibuilt_seifi/include /Ithirdparty/win
-python/include /Ithirdparty/win-libs-vc10/extras/include /MD /Zi /O2 /Ob2 /Oi /Ot /fp:fast /DFORCE_INLINING
/Fdbuilt_seifi/tmp/p3pandatoolbase_composite1.pdb /Zm300 /DWIN32_VC /DWIN32 -D_HAS_EXCEPTIONS=0 /GR- /W3 pa
ndatool/src/pandatoolbase/p3pandatoolbase_composite1.cxx
p3pandatoolbase_composite1.cxx
[T1] Linking executable built_seifi/bin/p3dembedw.exe
link /nologo /MACHINE:X86 /NOD:MFC90.LIB /NOD:MFC80.LIB /NOD:LIBCMT /NOD:LIBCI.LIB /DEBUG /nod:libc /nod:li
bcmtd /nod:atlthunk /nod:atls /nod:atlsd /MAP:NUL /NOD:MSVCRTD.LIB /NOD:MSVCPRTD.LIB /NOD:MSVCIRTD.LIB /FIXE
D:NO /OPT:REF /STACK:4194304 /INCREMENTAL:NO /OUT:built_seifi/bin/p3dembedw.exe /LIBPATH:thirdparty/win-pyt
hon/libs built_seifi/tmp/plugin_standalone_panda3dBase.obj built_seifi/tmp/plugin_standalone_p3dEmbedWinMain
.obj built_seifi/tmp/plugin_standalone_p3dEmbed.obj built_seifi/tmp/plugin_standalone_pystub.obj built_seifi
/tmp/plugin_standalone_dtoolbase_composite1.obj built_seifi/tmp/plugin_standalone_dtoolbase_composite2.obj b
uilt_seifi/tmp/plugin_standalone_lookup3.obj built_seifi/tmp/plugin_standalone_indent.obj built_seifi/tmp/pl
ugin_standalone_dtoolutil_composite1.obj built_seifi/tmp/plugin_standalone_dtoolutil_composite2.obj built_se
ifi/tmp/plugin_standalone_prc_composite1.obj built_seifi/tmp/plugin_standalone_prc_composite2.obj built_seif
i/tmp/plugin_standalone_dconfig_composite1.obj built_seifi/tmp/plugin_standalone_express_composite1.obj buil
t_seifi/tmp/plugin_standalone_express_composite2.obj built_seifi/tmp/plugin_standalone_downloader_composite1
.obj built_seifi/tmp/plugin_standalone_downloader_composite2.obj built_seifi/tmp/plugin_common.obj built_sei
fi/tmp/libp3tinyxml.lib built_seifi/tmp/libp3d_plugin_static.lib wsock32.lib ws2_32.lib comctl32.lib user32.
lib ole32.lib shell32.lib gdi32.lib advapi32.lib msimg32.lib thirdparty/win-libs-vc10/zlib/lib/zlibstatic.li
b thirdparty/win-libs-vc10/openssl/lib/libpandassl.lib thirdparty/win-libs-vc10/openssl/lib/libpandaeay.lib
python27.lib(python27.dll) : error LNK2005: _PyString_AsString already defined in plugin_standalone_pystub.o
bj
python27.lib(python27.dll) : error LNK2005: _PyGILState_Release already defined in plugin_standalone_pystub.
obj
python27.lib(python27.dll) : error LNK2005: _PyUnicodeUCS2_AsWideChar already defined in plugin_standalone_p
ystub.obj
python27.lib(python27.dll) : error LNK2005: _PyUnicodeUCS2_GetSize already defined in plugin_standalone_pyst
ub.obj
python27.lib(python27.dll) : error LNK2005: _PyList_GetItem already defined in plugin_standalone_pystub.obj
python27.lib(python27.dll) : error LNK2005: _PySys_GetObject already defined in plugin_standalone_pystub.obj
python27.lib(python27.dll) : error LNK2005: _PyGILState_Ensure already defined in plugin_standalone_pystub.o
bj
python27.lib(python27.dll) : error LNK2005: _Py_IsInitialized already defined in plugin_standalone_pystub.ob
j
Creating library built_seifi/bin/p3dembedw.lib and object built_seifi/bin/p3dembedw.exp
built_seifi/bin/p3dembedw.exe : fatal error LNK1169: one or more multiply defined symbols found
The following command returned a non-zero value: link /nologo /MACHINE:X86 /NOD:MFC90.LIB /NOD:MFC80.LIB /N
OD:LIBCMT /NOD:LIBCI.LIB /DEBUG /nod:libc /nod:libcmtd /nod:atlthunk /nod:atls /nod:atlsd /MAP:NUL /NOD:MSVC
RTD.LIB /NOD:MSVCPRTD.LIB /NOD:MSVCIRTD.LIB /FIXED:NO /OPT:REF /STACK:4194304 /INCREMENTAL:NO /OUT:built_se
ifi/bin/p3dembedw.exe /LIBPATH:thirdparty/win-python/libs built_seifi/tmp/plugin_standalone_panda3dBase.obj
built_seifi/tmp/plugin_standalone_p3dEmbedWinMain.obj built_seifi/tmp/plugin_standalone_p3dEmbed.obj built_s
eifi/tmp/plugin_standalone_pystub.obj built_seifi/tmp/plugin_standalone_dtoolbase_composite1.obj built_seifi
/tmp/plugin_standalone_dtoolbase_composite2.obj built_seifi/tmp/plugin_standalone_lookup3.obj built_seifi/tm
p/plugin_standalone_indent.obj built_seifi/tmp/plugin_standalone_dtoolutil_composite1.obj built_seifi/tmp/pl
ugin_standalone_dtoolutil_composite2.obj built_seifi/tmp/plugin_standalone_prc_composite1.obj built_seifi/tm
p/plugin_standalone_prc_composite2.obj built_seifi/tmp/plugin_standalone_dconfig_composite1.obj built_seifi/
tmp/plugin_standalone_express_composite1.obj built_seifi/tmp/plugin_standalone_express_composite2.obj built_
seifi/tmp/plugin_standalone_downloader_composite1.obj built_seifi/tmp/plugin_standalone_downloader_composite
2.obj built_seifi/tmp/plugin_common.obj built_seifi/tmp/libp3tinyxml.lib built_seifi/tmp/libp3d_plugin_stati
c.lib wsock32.lib ws2_32.lib comctl32.lib user32.lib ole32.lib shell32.lib gdi32.lib advapi32.lib msimg32.li
b thirdparty/win-libs-vc10/zlib/lib/zlibstatic.lib thirdparty/win-libs-vc10/openssl/lib/libpandassl.lib thir
dparty/win-libs-vc10/openssl/lib/libpandaeay.lib
Storing dependency cache.
Elapsed Time: 21 sec
Build process aborting.
Build terminated.By the way i replaced win python in thirdparty directory with python 2.76 installed on my Windows(i also copied python.dll from system32).