possible bug with custom-named modules

Hi.  I'm working on a custom module loader, roughly equivalent to
use-modules but taking a file path instead of a module name.  I ran
into a problem with this bit:

  (save-module-excursion
   (lambda ()
     (set-current-module my-module)
     (set! %load-hook my-hook)
     (primitive-load my-module-path)))

My %load-hook sees the correct current module.  But in the call to
primitive-load, the code in the loaded file sees a new, empty current
module.  Then it runs into problems since that module hasn't been
prepared by my hook.

The odd thing is this problem seems to be triggered only when
my-module's name is set to a list of just one symbol, whose name is
any absolute path referring to the file being loaded (not necessarily
my-module-path exactly).  If it's a relative path, or not a path for
this file, or a list of multiple symbols regardless of their names,
then there's no problem.  Does anyone know why this would happen?