My fault. A spurious older version of luatex too early in the search path.
Became disastrous only after the luatex version in the betas changed at some
point in time.
However in search of the problem I stumbled on a few statements invoking a Lua
error that can be avoided by safer coding, thus
I cannot get ConTeXt working on my other machine though I mimicked everything
there from the working one.
Installed the contextbeta with the script than try to run but this fails. See
the output from what has been done and what results. Also attached the .bashrc
setup sofar as regarding TeX.