UPDATE: I've found the problem. It seems related to CocoaPods/CocoaPods#4420. You need to use @import for Objective-C dependencies instead of #import.
This demonstrates another cocoapods problem. I cannot work out if this is a bug, or something I am doing wrong, but I think what I'm trying to do should be supported somehow.
If it is something I am doing wrong, I feel like Cocoapods should probably warn me somehow, because this seems like a pretty normal usecase.
XCode 7/7.1/7.2 <- Only tested on 7.2
Cocoapods <- 0.39.0
$ pod install
Try to build the application.
ObjcClass2.h:10:9: Include of non-modular header inside framework module 'MyLibSwift.ObjcClass2'