Try installing ps2-packer-0.4.4.ebuild. Note that the QA warning about execstack is displayed for a bunch of files, the same files in fact that are listed in the QA_EXECSTACK variable set in the ebuild. Used to work properly... seems to have been broken fairly recently.
This is with app-misc/pax-utils-0.1.19
looks to me like ps2-packer forgot to 'inherit games' and so GAMES_PREFIX_OPT is not actually set
i blame the moron who committed it in the first place ;) but it seems even after you fix that, it still doesnt work
although still not strictly a bug in portage that package has exec pt loads, not exec stacks. so you need to use QA_WX_LOAD. again, i blame the guy who originally committed.