WebKit needs an engine to execute JS. Two are available - LLInt and JIT. JIT can be built on Windows, but only with MS VC compiler (has inline assembly code that is GCC-incompatible). When building with JIT, ld complains about undefined symbols callToNativeFunction and callToJavaScript. LLInt can't be built on Windows, GCC complains: ../webkitgtk-2.4.0/Source/JavaScriptCore/llint/LLIntOpcode.h:59:11: error: label 'llint_throw_from_slow_path_trampoline' used but not defined macro(llint_throw_from_slow_path_trampoline, 1) \ This, i guess, is because LLIntAssembly.h can't be generated, the asm.rb script complains: offlineasm: No magic values found. Skipping assembly file generation. With neither engines being available, it's impossible to build WebKit. This affects WebKitGTK-2.3.x (confirmed with 2.3.90) and 2.4.0. WebKitGTK-2.2.5 builds (2.2.6 is said to be buildable as well, but i haven't tried it yet).
I'd mark this as a duplicate of bug 133028, which is similar generic for a build break under mingw32/msys, or if you want the specific JIT bug report, then it's bug 132856. Both contain some proposed fixes. The former has list of dependencies with other fixes for the general build failures under mingw32/msys.