The current code, namely vs2010_vcxproj.lua doesn't use resdefines at all. I just noticed this by accident. I'll definitely write a Lua-only workaround for this, but I still need to set up myself to contribute back changes from my (still Mercurial based) repo.
Unfortunately the function preprocessor is a local one, which makes the planned workaround more cumbersome than it would otherwise be. Likely another case where io.capture() is called for.