Yesterday I did a presentation on Figure. It went very smoothly, and now there are a few more people interested in working on it.
I, myself, am still trying to get the thing bootstrapped so that I don't need to write it in C any more. So far, I've got the filesystem half-finished, and can read files and directories from the POSIX filesystem into Figure's in-memory nodesystem.
Next comes fine-grained virtual memory, so that individual objects can be moved around without having to read and write entire files.