Just to help others with this situation:
Originally Posted by crestofawave
I've been trying to install this on the latest 4EXT touch recovery for a good while now and it won't work. It gets stuck at the HTC green logo and when I go back to recovery it reports it can't mount cache. Tried to format cache, then it does boot but it gets stuck at a boot-loop.
I had the exactly same problem when installing the latest ILWT 388b. For the last month or so I've tried to install the rom for several times and it always failed like mentioned on the quote.
Today I tried once again and did a factory reset right AFTER flashing the rom and it worked like a charm! The system booted up nicely and now I'm posting this within my fresh install of ILWT.
TL;DR: if you are having bootloops and "can't mount cache" errors in recovery after a ILWT install, try this: super wipe > flash ILWT > do a factory reset in recovery > boot up!