Perhaps try the following:
-Ensure if lv2core folder contains lv2.h:  ls /usr/include/lv2/lv2plug.in/ns/lv2core/
-run ./waf build, and post the error message here, it will probably say [2/9] blah blah file stuff.
-Open that file that its complaining about, and check to see what #include stuff its doing regarding lv2.

With some more info on what file its failing on I can check what's going wrong on my machine here.
Cheers, -Harry