Hi Roland,
Gxo2 is compiled with Freebasic, whereas co2 is compiled with Oxygen and also uses a few o2 inc files, including sysutil, and parseutil so their internals will diverge. The compiler could be written in any language, and include customised preprocessing and postprocessing.
I think the full pathname that you see for oxygen.dll comes from librarypath "$\"
There is lots of new material in this release of o2, and I don't anticipate further major changes to the o2 core, but I see graphics, GUI and audio as major areas of interest for developing an outer shell.