Hey ejadelomax, this IF really is among the very best I've played. I've spend quite a few decent hours on it, and intend to spend many more.
I'm writing now just to share a clue on a bug that makes the game freeze. So, SPOILERS AHEAD for people looking for reviews on this game.
While I saw in your latest update that a bug after entering the lake bed is already fixed, there is yet another quite annoying one around that spot—"You ponder the words."—I just got no new options after clicking it (game frozen), at around the 5th loop. I tried a lot of stuff to solve this, and in the end I believe having a discussion with Mister Pent at the bar as his apprentice, specifically unlocking [story on the lake monster with name and wish details (and/or) the way to pronounce archaic words] freed me from the bug, as naturally in the following loops I went down a more 'advanced' path in the lake.
So perhaps you could look at the conditions at the point where the player does not know either or both pieces of information, that's possibly where the bug lies.