Interesting project...
On my last trip out-of-state, I took two laptops and a palm pilot.
I also SSHed to my home network and had access to most of what I needed to get my "coding fix" while away.
Normally, if I have some idea that can't wait for me to get my hands on a compiler. I write it down, chart it out, design the interface on paper... optimize and streamline it... by then I would be behind a compiler.
The approach you take to accomplish this has a potential for reuse in other areas as well... library creation, document conversion, animated GIF creation, an automated newbie hand holder, etc. Good idea man. Keep us posted on the progress.