I've glanced at it, but a language that sells itself as a Ruby-like language for the Erlang VM doesn't appeal to me. I really like Erlang, but don't care for Ruby. (In the procedural/OO/scripting niche, I strongly prefer Lua.)
I'll check it out again, though. If nothing else, it's an example of a real compiler written in Erlang, which is interesting in itself.