There is good gnus and bad news. The Aspell execution has been disconnected from C:\Aspell, rather cleverly, IMHO. But, the Dictionary still seems to be tied to C:\Aspell, so spellchecking doesn't work.
That's because you installed Aspell in C:\Aspell using the data installer intended for the current release of LyX (1.4.1). This location will of course be remembered so nobody has to reinstall dictionaries.
If you want to change this location, reinstall the Aspell data using http://wiki.lyx.org/uploads/Windows/Aspell6/aspelldata-0.60.4.exe
You still need the 1.4.2svn Windows installer to get this to work. Joost