This is still going?
I'd assumed it had died like so many other Google technologies e.g. Gears. And what's the story with NaCl while we're on the subject - gaining traction or just another technologically cool idea that isn't going to take off in real life?
I really don't think the right idea is to introduce ANOTHER language. Being able to re-use code between your browser and desktop apps (and even the server for shared libraries) is surely a better idea than having to port your code, rewrite standard libs from one language that don't exist in another, etc?
Streamlined versions of JS are not solving the underlying problem.