Hm. Cute idea, but I managed to immediately get my cursor stuck in the status bar with no way out... until I moused up and clicked in the upper part. Not ready for prime time, I think.
It certainly does need a lot of work before it's ready for prime time. Most of the work has been making sure the basics work and that the design is easily extensible. I started working on it based on this post here:
I figured those who were interested in that idea might like to see or get engaged in the beginning stages. Of course, the idea has snowballed from an editor that can evaluate a subset of Javascript into a fully extensible editor.