It seems to be loading 20 times the shaderlist.txt, and this file have some lines pointing to non-existing files.
You should run a brush cleanup (the icon on the left with two blue and green arrows), it should fix the node without volume thingy.
See: http://forums.warchest.com/showthread.php/38898-node-without-volume?p=486525&viewfull=1#post486525
The file with the related shader is in your shaderlist.txt and is found, so that’s OK.
So, after all that advice, another big issue:
WARNING: Over 90 percent structural map detected. Compile time may be adversely affected.
[…]
1367 tiny portals
There’s two kind of brushes: structural (default) and detail; You must learn that to map efficiently:
http://www.pythononline.co.uk/et/tutorial18.htm
But don’t look at 2Bit examples, they’re bad; Download the vanilla maps sources and see how it should be done
Be sure your map is closed (sourrounded by a structural hull); There should never be a hole leading to the void, or the compilation will not complete and a MAP LEAK message will appear, and a red line in your map will be drawn in the 2D view, from the entity from which the visibility calculation starts to the leak spot.