Java bin folder is added in path variable.The "java" you are referring to - is it just JRE or JDK? You can verify if JDK's bin directory is in the path as "javac" would be executed to compile the jhtml pages used in dyn/admin. If "javac" is available in the path then it could be the issue related to long arguments passed to a program (javac) on windows.
even dyn/admin/nucleus does not work.Interesting that the workaround to directly access component browser with http://host:port/dyn/admin/nucleus is also not working. I think it does not involve a jhtml page for the output so it should not fail due to this issue.