Please consider applying this patch to force linuxrc executable at image with specifying --linuxrc.
*** Bug 131766 has been marked as a duplicate of this bug. ***
*** Bug 131768 has been marked as a duplicate of this bug. ***
Created attachment 85815 [details, diff] genkernel-3.3.11d-init-execute.patch
Fixed in 3.4.0_pre1, thanks.