A few months ago, back when I was still in school and needed things to do to keep my mind off my thesis, I started idle work on a Matlab/Octave implementation for Parrot. A lot of the PCT components were still being polished at the time, and I remember having to implement some pretty heinous hacks to get things like subroutine return values working. I also remember having a hell of a time implementing the M variadic subroutine arguments and return values (Although that was a shortcoming of PCT that has since been resolved). I also remember the absolute sense of overwhelming dread when I thought about the huge number of standard library functions that any M implementation would require (not to mention the graphical functions!)
Anyway, today I got an email from another interested coder who wanted to implement an M-on-Parrot compiler. He saw some of my discussions on the topic in various chat logs and sent me an email. We shot a few emails back and forth last night, and today he's set up a new project at Google Code for it: Matrixy.
We're going to start uploading some of our initial work today, and then it's off to development like normal. I'll post updates about progress here as they happen.