The problem is when you try to install rootfs on a LVM in a fresh 
Wolverine install.
The process of installing a root filesystem in LVM is as follows:

1. Wolverine kickstart install, with the following partitions:

part /boot  --size 64M
part /lvm   --size 10000M
part /      --size 5000M
part swap   --size 128M

the resulting partition table is:

/dev/hda1  (linux)    -> /boot
/dev/hda5  (linux)    -> /
/dev/hda6  (linux)    -> /lvm
/dev/hda7  (swap)    -> swap
* Note the order of the partitions

2. Make a new initrd based in the original RedHat initrd, adding lvm-
support. The new initrd works fine with the stock kernel.

3. Migrate /lvm and swap partitions to LVM, so the partition table changes 
to:
/dev/hda1  (linux)    -> /boot
/dev/hda5  (linux)    -> /
/dev/hda6  (LVM)    -> rootVG (contains a Logical Volume named root)
/dev/hda7  (LVM)    -> varVG

4. Copy the original / into /mnt/root (root LV).   
Change /mnt/root/etc/fstab to reflect the new partition:
...
   /dev/rootVG/root   /     ext2    defaults 1 0

And /mnt/root/etc/lilo.conf:
...
   root=/dev/rootVG/root
   initrd=/boot/initrd-2.4.1-lvm.img
Activate the new lilo.conf
Reboot.

5. The new root filesystem boots ok, which is in the LVM volume.

6. *** HERE IS THE PROBLEM ***
Because of the new LVM is installed and running, you can remove the old 
root partition (/dev/hda5), and reuse it for LVM:
old:   
/dev/hda5  (linux)    -> /
/dev/hda6  (LVM)    -> rootVG
/dev/hda7  (LVM)    -> varVG
new:
/dev/hda5  (LVM)  -> homeVG (with a home Logical Volume)
/dev/hda6  (LVM)    -> rootVG
/dev/hda7  (LVM)    -> varVG
update /etc/fstab and reboot. After that, the kernels fails mounting the 
root partition.

I discovered than LVM gets confused when you add the third Volume Group:

before adding homeVG:
# vgdisplay rootVG     -> shows rootVG, in /dev/hda6
# vgdisplay varVG     -> shows varVG, in /dev/hda7
after adding homeVG
# vgdisplay homeVG     -> shows rootVG, in /dev/hda6 (must be homeVG)
# vgdisplay rootVG     -> shows varVG, in /dev/hda7 (must be rootVG)
and that explains why the kernel can4t find the root partition.

I finally could install Wolverine + lvm making a manual partition in the 
kickstart install (so lvm is not confused :), but i thing this is just 
a "work around", and not the true solution (a bug in LVM?)

Thanks.
Maximiliano Morales