Oh, I think I know what's wrong with ya. I'll bet you don't have enough tinker tools. Right?
Goto line 415 and change the line from this:
gosub CheckAndCraftItems %tinktools %tinktools ENK 2 1 %maxtinkertools cat_3-sel_4 ; make tinker tools, iron
To this:
gosub CheckAndCraftItems %tinktools %tinktools ENK 2 1 %maxtinkertools cat_4-sel_4 ; make tinker tools, iron
It works for most people because the may have lots of tinker tools laying around. I'll have to fix this in 1.24 as well, but for now this should get you going.