I wrote a similar piece of code called MagicCodec back in 2008, including a zhpy codec(Chinese Python) and a Lua codec, which translates Lua source code to Python.
(Blog content in Mandarin Chinese, with sample code
http://weijr-note.blogspot.com/2008/02/python-magiccodec-01....)
There was a time that I am slightly interested in Chinese Python for education purpose. Another interesting approach is using ctypes to replace keywords in CPython implementation, http://weijr-note.blogspot.com/2011/06/python-32-keyword.htm...
(Also a blog post in Mandarin Chinese with sample code, which is also in Mandarin Chinese)