Hi there
Actually the whole idea of running an OS on any type of hardware is great -- there is on. nothing wrong oin using a sort of "Meta Architecture" so the "pseudo code" will run on whatever the real hardware underneath is.

Companies like SAP with their ABAP/4 language were working on similar ideas -- any SAP consultants know that you can run an ABAP/4 application on almost any type of hardware -- the SAP kernel converts the "I-code" into the actual code for the real hardware the application is running on. It's one step better than running an "Interpreter".

Running Windows on an ARM type processor might yield a HUGE amount of benefits in mobile computing etc etc. The main difficulties of course will be in providing User Interfaces such as the GUI but the basic kernel should run just fine.

Cheers
jimbo