(let ((v1 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 0))
        (v2 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 1))
        (r (make-array nil)))
    (funcall
     (compile
      nil
      `(lambda  (r p2)
         (declare (optimize speed (safety 1))
                  (type (simple-array t nil) r)
                  (type (array *) p2))
         (setf (aref r) (bit-and ,v1 (the (bit-vector *) p2)))
         (values)))
     r v2)
    (let ((result (aref r)))
      (values
       (notnot (simple-bit-vector-p result))
       (=t (array-dimension result 0) 1)
       (=t (aref result 0) 1))))

$ openmcl
Welcome to OpenMCL Version (Beta: Darwin) 0.14.3-50328!
? (defun notnot (x) (not (not x)))
NOTNOT
? (let ((v1 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 0))
        (v2 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 1))
        (r (make-array nil)))
    (funcall
     (compile
      nil
      `(lambda  (r p2)
         (declare (optimize speed (safety 1))
                  (type (simple-array t nil) r)
                  (type (array *) p2))
         (setf (aref r) (bit-and ,v1 (the (bit-vector *) p2)))
         (values)))
     r v2)
    (let ((result (aref r)))
      (values
       (notnot (simple-bit-vector-p result))
       (=t (array-dimension result 0) 1)
       (=t (aref result 0) 1))))
;Compiler warnings :
;   Undefined function =T (2 references), in an anonymous lambda form.
> Error in process listener(1): #<BIT-VECTOR 1 fill-pointer 0, displaced> and #<BIT-VECTOR 1 fill-pointer, displaced> have different dimensions.
> While executing: CCL::CHECK-MATCHING-DIMENSIONS
> Type :POP to abort.
Type :? for other options.
1 > 

$ clisp
  i i i i i i i       ooooo    o        ooooooo   ooooo   ooooo
  I I I I I I I      8     8   8           8     8     o  8    8
  I  \ `+' /  I      8         8           8     8        8    8
   \  `-+-'  /       8         8           8      ooooo   8oooo
    `-__|__-'        8         8           8           8  8
        |            8     o   8           8     o     8  8
  ------+------       ooooo    8oooooo  ooo8ooo   ooooo   8

Copyright (c) Bruno Haible, Michael Stoll 1992, 1993
Copyright (c) Bruno Haible, Marcus Daniels 1994-1997
Copyright (c) Bruno Haible, Pierpaolo Bernardi, Sam Steingold 1998
Copyright (c) Bruno Haible, Sam Steingold 1999-2000
Copyright (c) Sam Steingold, Bruno Haible 2001-2004


[1]> (defun notnot (x) (not (not x)))
NOTNOT
[2]> (defun =t (a b) (notnot (= a b)))
=T
[3]> (let ((v1 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 0))
        (v2 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 1))
        (r (make-array nil)))
    (funcall
     (compile
      nil
      `(lambda  (r p2)
         (declare (optimize speed (safety 1))
                  (type (simple-array t nil) r)
                  (type (array *) p2))
         (setf (aref r) (bit-and ,v1 (the (bit-vector *) p2)))
         (values)))
     r v2)
    (let ((result (aref r)))
      (values
       (notnot (simple-bit-vector-p result))
       (=t (array-dimension result 0) 1)
       (=t (aref result 0) 1))))
T ;
T ;
T
[4]> 

I posted this bug to the OpenMCL-devel list.  It is fixed in the bleeding edge branch.  You need to get a
 new image file and interfaces databse file from the clozure.com ftp server (/bup/testing) to rebuild
 OpenMCL from CVS.

$ openmcl
Welcome to OpenMCL Version (Beta: Darwin) 0.14.3-050420!
? (defun notnot (x) (not (not x)))
NOTNOT
? (defun =t (a b) (notnot (= a b)))
=T
? (let ((v1 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 0))
        (v2 (make-array 1 :element-type 'bit
                        :initial-contents '(1)
                        :fill-pointer 1))
        (r (make-array nil)))
    (funcall
     (compile
      nil
      `(lambda  (r p2)
         (declare (optimize speed (safety 1))
                  (type (simple-array t nil) r)
                  (type (array *) p2))
         (setf (aref r) (bit-and ,v1 (the (bit-vector *) p2)))
         (values)))
     r v2)
    (let ((result (aref r)))
      (values
       (notnot (simple-bit-vector-p result))
       (=t (array-dimension result 0) 1)
       (=t (aref result 0) 1))))
T
T
T
?