Great project.
I'm interested, after spending almost a day trying to work out how to program the 8051 on the CC2540 chip and giving up due to the awful (for hobbyist) toolchain - TI have definitely done themselves a disservice making it hard to adopt their BLE platform, especially as the hardware is cheap and accessible (eg. HM-10).
You obviously see the potential of these chips and the need to make it easy to work with them - in fact a brilliant idea to add an interpreter as most use of the 8051 will be for simple computations and sensor interfacing.

My use case is simple - I want to add a temperature sensor on a button cell that lasts several years and reads the temperature every 5 - 10 mins and when changed then send it to the host over BLE. Will likely use a low voltage sensor like the TMP35 which is good for down to 2v with still a linear response and won't need a buck converter and is low power.

Looking at your code and write up on github I'm still missing a few things:
1) Will the interpreter feature a sleep function that uses the sleep timer in power mode 2 to wake up the device (24 bit timer means almost 10 minutes of deep sleep is possible)?
2) without having to buy the TI cc debugger - for a HM-10 there is a firmware update feature over serial available that should be able work to avoid buying the $60 cc debugger for a 1 off project (a TTL / RS232 converter still needed). I assume you haven't tested this with your HM-10 mule?
3) The code console is in OSX - only 5% of the world's computers support that (I don't have any Macs). For the rest of us, is there any other option to upload the basic code?

Do keep posting updates and thank you for sharing.