[@neosnc Participant 12 years, 5 months ago]

Solved:

In Windows bbPress was reporting $content_dir with double slashes // (ie: c:/www/wordpres//) so the content_dir was not being properly string replaced with the content_url()

Solution:
Line 168 & 237 of template-functions.php added this to correct for double slashes:
$content_dir = str_replace( ‘//’, ‘/’, $content_dir );