While running MediaWiki 1.26 on a Debian Jessie server (with PHP 5.6) with the mediawiki-math-texvc package, I have been hit by T10625#135553. The lack of a PATH variable caused texvc to fail, and currently there seems to be no way of fixing this without either hacking the Math extension with the given patch, adding putenv calls in LocalSettings.php (and I don't know if this works for me, haven't tested that yet - but even if it does, I believe using plain PHP functions in LocalSettings.php (with the exception of really important stuff such as the MEDIAWIKI define check) should be avoided.
Can we assign a default value to the PATH variable somehow in wfShellExec? Such as adding a default $wgPathEnvironment variable, which can be overriden?