Too many levels of symbolic links
This happens if you have a link pointing to itself, or some other arrangement of recursive links
For example try this as user, in your home directory (you need write access):
$ ln -s foo foo
$ ls foo
ls: foo: Too many levels of symbolic links
$ rm foo
So it looks like you probably have a link pointing to itself. Perhaps lsmod.old?
As for broken links, I tried that command on my system, and counted the number of broken symbolic links:
$ ( find / -type l | xargs file ) | grep 'broken symbolic link' | wc -l
So I guess it's normal and nothing to worry about!