When you run the /etc/init.d/nfsserver script it does not startup the NFS server. test -x "$NFS_MOUNTD" || NFS_MOUNTD=/usr/sbin/mountd test -x "$NFS_NFSD" || NFS_NFSD=/usr/sbin/nfsd test -x "$NFS_STATD" || NFS_STATD=/usr/sbin/statd At a minimum the above is wrong. The values should be "rpc.mountd", "rpc.nfsd" and "rpc.statd".
Changing these to rpc.mountd, rpc.nfsd, rpc.statd can eliminate initscript errors. However, nfs still doesn't work # exportfs -av exporting *:/ # mount localhost:/ /mnt (won't return here)
You need to make sure that NFSD is enable in the kernel. Assuming it is, you also need to make sure you have an ethernet device enabled (loopback apparently isn't enough). I have been successfully using NFS from my target board once I did those things.
Initscript issue fixed in master in http://git.pokylinux.org/cgit.cgi/poky/commit/?id=5ee6384d9990a7da25a352c308e698d3f3990d6d