Basic minted example prints out latex code, not source code

Question

I have this very basic .tex file:

\documentclass{book}
\usepackage{vendor/minted}
\begin{document}

\title{My Book}
\author{Jonathan Lipps}
\maketitle

\begin{minted}{python}
def boring(args = None):
    pass
\end{minted}

\end{document}

(vendor/minted is the version of minted.sty I just downloaded from the GitHub page)

Rather than producing the expected output, I get a PDF with some very nicely highlighted latex gibberish, which appears to my eyes to be the latex code that should generate the python source display, not what should actually be displayed itself:

\makeatletter
\def\PY@reset{\let\PY@it=\relax \let\PY@bf=\relax%
    \let\PY@ul=\relax \let\PY@tc=\relax%
\let\PY@bc=\relax \let\PY@ff=\relax} \def\PY@tok#1{\csname PY@tok@#1\endcsname} \def\PY@toks#1+{\ifx\relax#1\empty\else%
\PY@tok{#1}\expandafter\PY@toks\fi} \def\PY@do#1{\PY@bc{\PY@tc{\PY@ul{%
\PY@it{\PY@bf{\PY@ff{#1}}}}}}} \def\PY#1#2{\PY@reset\PY@toks#1+\relax+\PY@do{#2}}
\expandafter\def\csname PY@tok@gd\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.63,0.00,0.0 \expandafter\def\csname PY@tok@gu\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@gt\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.27,0.8 \expandafter\def\csname PY@tok@gs\endcsname{\let\PY@bf=\textbf}
\expandafter\def\csname PY@tok@gr\endcsname{\def\PY@tc##1{\textcolor[rgb]{1.00,0.00,0.0 \expandafter\def\csname PY@tok@cm\endcsname{\let\PY@it=\textit\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@vg\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.10,0.09,0.4 \expandafter\def\csname PY@tok@m\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.40 \expandafter\def\csname PY@tok@mh\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.4 \expandafter\def\csname PY@tok@go\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.53,0.53,0.5 \expandafter\def\csname PY@tok@ge\endcsname{\let\PY@it=\textit}
\expandafter\def\csname PY@tok@vc\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.10,0.09,0.4 \expandafter\def\csname PY@tok@il\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.4 \expandafter\def\csname PY@tok@cs\endcsname{\let\PY@it=\textit\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@cp\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.74,0.48,0.0 \expandafter\def\csname PY@tok@gi\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.63,0.0 \expandafter\def\csname PY@tok@gh\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@ni\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@nl\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.63,0.63,0.0 \expandafter\def\csname PY@tok@nn\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@no\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.53,0.00,0.0 \expandafter\def\csname PY@tok@na\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.49,0.56,0.1 \expandafter\def\csname PY@tok@nb\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.50,0.0 \expandafter\def\csname PY@tok@nc\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@nd\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.67,0.13,1.0 \expandafter\def\csname PY@tok@ne\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@nf\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.00,1.0 \expandafter\def\csname PY@tok@si\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@s2\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.13,0.1 \expandafter\def\csname PY@tok@vi\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.10,0.09,0.4 \expandafter\def\csname PY@tok@nt\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[ \expandafter\def\csname PY@tok@nv\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.10,0.09,0.4 \expandafter\def\csname PY@tok@s1\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.13,0.1 \expandafter\def\csname PY@tok@sh\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.13,0.1 \expandafter\def\csname PY@tok@sc\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.13,0.1
\expandafter\def\csname PY@tok@sx\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.50,0.00}{##1}}} \expandafter\def\csname PY@tok@bp\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.50,0.00}{##1}}} \expandafter\def\csname PY@tok@c1\endcsname{\let\PY@it=\textit\def\PY@tc##1{\textcolor[rgb]{0.25, \expandafter\def\csname PY@tok@kc\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.00, \expandafter\def\csname PY@tok@c\endcsname{\let\PY@it=\textit\def\PY@tc##1{\textcolor[rgb]{0.25,0 \expandafter\def\csname PY@tok@mf\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.40}{##1}}} \expandafter\def\csname PY@tok@err\endcsname{\def\PY@bc##1{\setlength{\fboxsep}{0pt}\fcolorbox[rg \expandafter\def\csname PY@tok@kd\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.00, \expandafter\def\csname PY@tok@ss\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.10,0.09,0.49}{##1}}} \expandafter\def\csname PY@tok@sr\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.40,0.53}{##1}}} \expandafter\def\csname PY@tok@mo\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.40}{##1}}} \expandafter\def\csname PY@tok@kn\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.00, \expandafter\def\csname PY@tok@mi\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.40}{##1}}} \expandafter\def\csname PY@tok@gp\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.00, \expandafter\def\csname PY@tok@o\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.40,0.40,0.40}{##1}}} \expandafter\def\csname PY@tok@kr\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.00, \expandafter\def\csname PY@tok@s\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.13,0.13}{##1}}} \expandafter\def\csname PY@tok@kp\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.00,0.50,0.00}{##1}}} \expandafter\def\csname PY@tok@w\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.73,0.73}{##1}}} \expandafter\def\csname PY@tok@kt\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.69,0.00,0.25}{##1}}} \expandafter\def\csname PY@tok@ow\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.67, \expandafter\def\csname PY@tok@sb\endcsname{\def\PY@tc##1{\textcolor[rgb]{0.73,0.13,0.13}{##1}}} \expandafter\def\csname PY@tok@k\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.00,0 \expandafter\def\csname PY@tok@se\endcsname{\let\PY@bf=\textbf\def\PY@tc##1{\textcolor[rgb]{0.73, \expandafter\def\csname PY@tok@sd\endcsname{\let\PY@it=\textit\def\PY@tc##1{\textcolor[rgb]{0.73,
\def\PYZbs{\char \\} \def\PYZus{\char \_} \def\PYZob{\char \{} \def\PYZcb{\char \}} \def\PYZca{\char \^} \def\PYZam{\char \&} \def\PYZlt{\char \<} \def\PYZgt{\char \>} \def\PYZsh{\char \#} \def\PYZpc{\char \%} \def\PYZdl{\char \ } \def\PYZhy{\char \-} \def\PYZsq{\char \’} \def\PYZdq{\char \"} \def\PYZti{\char \~}
% for compatibility with earlier versions \def\PYZat{ }
\def\PYZlb{[}
\def\PYZrb{]}
\makeatother

So my question is, how do I get it to do the right thing? Here's how I'm compiling the pdf:

xelatex -shell-escape myfile.tex

[UPDATE]

And here are all the versions of everything:

xelatex --version
XeTeX 3.14159265-2.6-0.99991 (TeX Live 2014)

python --version
Python 2.7.5

pip freeze
Pygments==1.6

I tried both the regular minted that came with my TeX live distribution, and also the one I just downloaded from minted's master on GitHub (that's the one in vendor). I'm on a Mac, OS X 10.8.

[UPDATE]

I discovered that the problem is in the command I was using, which (contrary to what I wrote above) was actually:

xelatex -output-directory=build -shell-escape book/main.tex

Turns out the -output-directory flag causes this problem. When I run in the correct directory, everything works just fine. I'm curious though why -output-directory would cause things to fail!

[UPDATE]

This appears to be a duplicate of (at least) Error when using minted package and -output-directory option

Perhaps this should be closed/merged?