I sure hope he has learned since Petunia and is not going to write it in assembler... You get more benefits in actually optimizing the high level algorithms rather than writing everything in asm, as is proven by the fact that Trance is significantly faster than Petunia. Trance is written in pure C.
But welcome news, regardless.
As for this being any kind of advertisement for any platform: forget it. x86 has had their JIT for ages, they're not going to bother with some PPC platform just because it 10 years later finally gets JIT. Since the code will be GPL it will not be locked to OS4, and thus there is no "lock in" factor either. Why would you obtain a 1000+ USD machine just to run this code when you can run it on your PS3/Wii/Mac just as well, and even better?
Now that I think about it, if I were to do it I'd actually write the JIT on Linux or Mac OS X and then backport it to amigoid systems. Lack of memory protection and some badass debugging tools (valgrind) would be just pain it the arse.