An opkg installs a kernel module, then postinst calls "depmod -a". The opkg intercept causes the depmod invocation to be deferred until later. Meanwhile, whether in this postinst or in a later one, attempts to load/use that kernel module fail because depmod hasn't run yet. Hypothetically, the same issue could occur with the ldconfig intercept. For example, if a package installs a library, then a later package wants to start a service that depends on that library. The service start request will occur immediately, meanwhile the ldconfig call won't happen until much later.
opkg should have a config option to disable intercepts, for cases like this one.
Added intercepts_dir option to opkg.conf (commit 0991c27b), which can be used to disable postinst intercepts by setting to /dev/null.