Normally, you missed e2fs compabiltity, but that's very rare.
When you do a:
# make menuconfig (make xconfig could work as well),
and check Second Extended fs (First sentence!). It normally shouldn't be a module! (Well, unless you're using an initfile, but normally one doesn't).
So, if there's an M, try change it to *.
Also,check the output of:
$ which mke2fs (I don't have one, it surprised me)
$ which mkfs.ext2
Normally these files are in /sbin/.
Be sure you're root (I think you are, just to be sure)
Be sure you got these libraries: (second column is where it should be on your file hierarchy, output of ldd /sbin/mke2fs, maybe your output is different, but it uses this libs on my machine
libext2fs.so.2 => /lib/libext2fs.so.2 (0x22f38000)
libcom_err.so.2 => /lib/libcom_err.so.2 (0x22f58000)
libblkid.so.1 => /lib/libblkid.so.1 (0x22f5b000)
libuuid.so.1 => /lib/libuuid.so.1 (0x22f63000)
libe2p.so.2 => /lib/libe2p.so.2 (0x22f67000)
libc.so.6 => /lib/libc.so.6 (0x22f6d000)
/lib/ld-linux.so.2 => /lib/ld-linux.so.2 (0x22f14000
All rather trivial, so I wonder if it's of any help, but that's all I can think of.