If I try to compile xfdesktop-4.6.1 I get this:

make[2]: Entering directory `/tmp/xfdesktop-4.6.1/panel-plugin'
/bin/sh ../libtool --tag=CC   --mode=link gcc -I../common  -I/usr/include/xfce4 -I/usr/include/gtk-2.0 -I/usr/lib/gtk-2.0/include -I/usr/include/pango-1.0 -I/usr/include/glib-2.0 -I/usr/lib/glib-2.0/include -I/usr/include/cairo -I/usr/include/pixman-1 -I/usr/include/freetype2 -I/usr/include/libpng12 -I/usr/include/atk-1.0   -I/usr/include/xfce4/ -I/usr/include/xfce4 -I/usr/include/glib-2.0 -I/usr/lib/glib-2.0/include -I/usr/include/gtk-2.0 -I/usr/lib/gtk-2.0/include -I/usr/include/pango-1.0 -I/usr/include/cairo -I/usr/include/pixman-1 -I/usr/include/freetype2 -I/usr/include/libpng12 -I/usr/include/atk-1.0    -DDATADIR=\"/usr/share\" -DLOCALEDIR=\"/usr/share/locale\" -DBINDIR=\"/usr/bin\" -g -O2   -o xfce4-menu-plugin xfce4_menu_plugin-desktop-menu-plugin.o ../common/libxfdesktop-menu.la ../common/libxfdesktop.la -lSM -lICE -lX11 -lxfcegui4 -lgtk-x11-2.0 -lxfce4util -lgdk-x11-2.0 -latk-1.0 -lgio-2.0 -lpangoft2-1.0 -lgdk_pixbuf-2.0 -lpangocairo-1.0 -lcairo -lpango-1.0 -lfreetype -lfontconfig -lgobject-2.0 -lgmodule-2.0 -lglib-2.0   -lxfce4panel -lxfcegui4 -lgtk-x11-2.0 -lxfce4util -lgdk-x11-2.0 -latk-1.0 -lgio-2.0 -lpangoft2-1.0 -lgdk_pixbuf-2.0 -lpangocairo-1.0 -lcairo -lpango-1.0 -lfreetype -lfontconfig -lgobject-2.0 -lgmodule-2.0 -lglib-2.0    
libtool: link: gcc -I../common -I/usr/include/xfce4 -I/usr/include/gtk-2.0 -I/usr/lib/gtk-2.0/include -I/usr/include/pango-1.0 -I/usr/include/glib-2.0 -I/usr/lib/glib-2.0/include -I/usr/include/cairo -I/usr/include/pixman-1 -I/usr/include/freetype2 -I/usr/include/libpng12 -I/usr/include/atk-1.0 -I/usr/include/xfce4/ -I/usr/include/xfce4 -I/usr/include/glib-2.0 -I/usr/lib/glib-2.0/include -I/usr/include/gtk-2.0 -I/usr/lib/gtk-2.0/include -I/usr/include/pango-1.0 -I/usr/include/cairo -I/usr/include/pixman-1 -I/usr/include/freetype2 -I/usr/include/libpng12 -I/usr/include/atk-1.0 -DDATADIR=\"/usr/share\" -DLOCALEDIR=\"/usr/share/locale\" -DBINDIR=\"/usr/bin\" -g -O2 -o xfce4-menu-plugin xfce4_menu_plugin-desktop-menu-plugin.o  ../common/.libs/libxfdesktop-menu.a ../common/.libs/libxfdesktop.a /usr/lib/libxfce4panel.so /usr/lib/libxfcegui4.so /usr/lib/libstartup-notification-1.so /usr/lib/libSM.so /usr/lib/libICE.so /usr/lib/libgtk-x11-2.0.so /usr/lib/libxfce4util.so /usr/lib/libgdk-x11-2.0.so /usr/lib/libatk-1.0.so /usr/lib/libgdk_pixbuf-2.0.so /usr/lib/libgio-2.0.so /usr/lib/libpangocairo-1.0.so /usr/lib/libpangoft2-1.0.so /usr/lib/libcairo.so /usr/lib/libpixman-1.so /usr/lib/libpng12.so /usr/lib/libXrender.so /usr/lib/libX11.so /usr/lib/libxcb-xlib.so /usr/lib/libxcb.so /usr/lib/libXau.so /usr/lib/libXdmcp.so /usr/lib/libpango-1.0.so -lm /usr/lib/libfontconfig.so /usr/lib/libfreetype.so -lz /usr/lib/libexpat.so /usr/lib/libgobject-2.0.so /usr/lib/libgmodule-2.0.so -ldl /usr/lib/libglib-2.0.so
xfce4_menu_plugin-desktop-menu-plugin.o: In function `dmp_create_file_chooser_button':
/tmp/xfdesktop-4.6.1/panel-plugin/desktop-menu-plugin.c:727: undefined reference to `exo_gtk_file_chooser_add_thumbnail_preview'
collect2: ld returned 1 exit status
make[2]: *** [xfce4-menu-plugin] Error 1
make[2]: Leaving directory `/tmp/xfdesktop-4.6.1/panel-plugin'
make[1]: *** [all-recursive] Error 1
make[1]: Leaving directory `/tmp/xfdesktop-4.6.1'
make: *** [all] Error 2

My configure call looks like this:

./configure --prefix=/usr --sysconfdir=/etc --libexecdir=/usr/lib &&
make

If I run this sed call before I try to build xfdesktop everything is fine:

sed -i -e 's/\$(THUNAR_VFS_LIBS)/\$(THUNAR_VFS_LIBS) \\\'\n'      \$(LIBEXO_LIBS)/' panel-plugin/Makefile.in

The sed call adds the exo library to the linker call.