I ran into a similar issue. I solved it by setting the Executable options in a variable and then simply calling the variable. Below is a sample setup.py that I use:
from cx_Freeze import setup, Executable
import sys
productName = "ProductName"
if 'bdist_msi' in sys.argv:
sys.argv += ['--initial-target-dir', 'C:\InstallDir\\' + productName]
sys.argv += ['--install-script', 'install.py']
exe = Executable(
script="main.py",
base="Win32GUI",
targetName="Product.exe"
)
setup(
name="Product.exe",
version="1.0",
author="Me",
description="Copyright 2012",
executables=[exe],
scripts=[
'install.py'
]
)