Dear cschwarz
i don't know whether you have resolved the problems.
Recently, I updated TELEMAC to v7p1r1,compile and run the examples seccessful with Python 2.7.6.
But when I update VS2008 to VS2012 and install anaconda2 in the same period, the same problems occured as you discribed above, even through I set E.V.path to Python 2.7.6.
Compileteleamc.py run ok, but runcode.py telemac2d cas-file failed.
When I uninstalled VS2012 and anaconda2, clear away all the relevant information on the register editer(regedit),everthing for Telemac is ok again.
When I update Python to 2.7.12rc1, compile and run Telemac in telemac2d modul ok too.
I can't explain the reason, but just hope the painful lessons can be helpfl for you.
Goodluck!
WXS