Thanks to heroic effort by David Jeannot, there is a new Cocoa-based OS X devdraw that seems to work well enough that I made it the default even on Snow Leopard.
If you do the usual hg pull -u; ./INSTALL you'll get it. I think the only pending Lion issue now is that people using Xcode 4.1 don't have working threads. I haven't tracked that down yet. I suspect the getcontext/setcontext routines in that Xcode are just broken. Russ