The Meggy Jr: http://www.evilmadscientist.com/article.php/meggyjr http://code.google.com/p/meggy-jr-rgb/
This project is creating a flash emulator of this open source handheld device.
Goals: Have the hardware classes mimic the real hardware as close as possible.
Create an interpreter of Meggy Jr code, to test and show off applications online.