When booting with scandelay=10 on the kernel args you get this output: >> Waiting ${SDELAY} seconds... What you should see is this: >> Waiting 10 seconds...' The line in defaults/initrd.scripts needs changing from this: good_msg 'Waiting ${SDELAY} seconds...' to this: good_msg "Waiting ${SDELAY} seconds..."
Good report, thanks! Fixed with next release, patched here: http://git.overlays.gentoo.org/gitweb/?p=proj/genkernel.git;a=commitdiff;h=02b72c6515a7772228ec5ab59bd0e470df326826
genkernel 3.4.18 including the fix has been released, closing.