Hi,

> This is pdfeTeX, Version 3.14159-14h-released-20010417-2.1 (Web2c
> 7.3.3.1) entering extended mode
> **&cont-en pages.tex
>
> you need this version of pdfex, since thanh changed the protruding specs
> [context can internally now handle both shemes]

that seems to be exactly the same version I am using: (downloaded from 
Thanh's page)

pg@levana:/tmp/pg$ pdfetex 
This is pdfeTeX, Version 3.14159-14h-released-20010417-2.1 (Web2C 7.3.3.1)
**&cont-en hanging.tex
entering extended mode
(./hanging.tex{/opt/context/2001.4.26/texmf/pdftex/config/pdftex.cfg}
[...]

-- 
Viele Grüße, 

    Patrick Gundlach