Experiencing the same issue here. As far as I can tell, a simple one line change in Util_Environment.php line 491 would fix it:
$home_url = get_home_url();
to
$home_url = get_option(‘home’);
As suggested by the WPML team here: https://wpml.org/errata/w3tc-is-not-minifying-files/
It would be nice to get this fixed ASAP.
