That seems like a weird error. Wonder if it is due to the wrong ilink? There's 2 or 3 of them and they all like slightly different syntax. Default is the ilink from VAC365 with ilink 5 only licensed for building Mozilla but IIRC, it is more compatible with the VAC365 one.
The warning about WINDOWCOMPAT seems weird too, at least my version of walker.def has WINDOWAPI.
The RPM package name is watcom-wlink-hll, see if that fixes things.
BTW, I usually stick to rc.exe rather then wrc.exe as it seems I've had problems with them not quite being compatible.