R – TortoiseSVN never runs post-commit.bat

I have set up my subversion/trac environment on Windows (Now Win7, previously tried on Vista) and all works perfectly. But I can't get my post-commit to work.
Here's the setup (using VisualSVN and Trac running on Apache):

C:\Users\Martin\Repositories\test_svn\hooks:

post-commit.bat:

call %~dp0\trac-post-commit-hook.cmd %1 %2

trac-post-commit-hook.cmd:

@ECHO OFF
::
:: Trac post-commit-hook script for Windows
::
:: Contributed by markus, modified by cboos.

:: Usage:
::
:: 1) Insert the following line in your post-commit.bat script
::
:: call %~dp0\trac-post-commit-hook.cmd %1 %2
::
:: 2) Check the 'Modify paths' section below, be sure to set at least TRAC_ENV


:: ----------------------------------------------------------
:: Modify paths here:

:: -- this one *must* be set
SET TRAC_ENV=C:\Users\Martin\Trac\test_svn

:: -- set if Python is not in the system path
SET PYTHON_PATH=

:: -- set to the folder containing trac/ if installed in a non-standard location
SET TRAC_PATH=
:: ----------------------------------------------------------

:: Do not execute hook if trac environment does not exist
IF NOT EXIST %TRAC_ENV% GOTO :EOF

set PATH=%PYTHON_PATH%;%PATH%
set PYTHONPATH=%TRAC_PATH%;%PYTHONPATH%

SET REV=%2

Python "%~dp0\trac-post-commit-hook" -p "%TRAC_ENV%" -r "%REV%" 

trac-post-commit-hook:

Grabbed from http://trac.edgewall.org/browser/branches/0.11-stable/contrib/trac-post-commit-hook

I have tested the scripts in a cmd window and they work all the way. But on a TortoiseSVN commit, nothing happens, which makes me believe that Tortoise never runs the post-commit.bat.

I have also tested a simple pre-commit, and that works.
The strange thing is that is HAS worked before, but I think I used an earlier release of VisualSVN then.

Does anyone have any idea on what's going on here?

Thanks a lot!
/Martin