This sounds like a parse tree. You would not need to be a super coder to pull this off. If you use flex/bison and a basic tree library, you can probably knock up a language in about 10 minutes. You can run through a parse tree - you do not need to generate I-code. I think this is how ruby works.
I have not really looked at stock mob-prog implementation, but IIRC they seemed to have made it hard on themselves.
I guess this is not used more often because flex and bison can look a little intimidating at first, and I guess not many hobbyists have the requisite knowledge.
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