As has been reported on tex.sx the =-syntax in \hyphenation seems to be broken in luatex 1.07: https://tex.stackexchange.com/questions/412894/hyphenation-problem-in-luatex-after-miktex-update
It fails for me in miktex (with luatex 1.07.0) and in texlive when I use a development luatex. With the default luatex 1.0.4 it works as expected. In context it doesn't work either: \starttext \hyphenation{Ba-den=Würt-tem-berg} \hsize=1pt Baden-Württemberg \stoptext -- Ulrike Fischer http://www.troubleshooting-tex.de/