Magnetic: the infamous os4 laptop that was "already running"
It wouldn't surprise me if it was running, in a bare form (the underlying kernel?), at Hyperion, with the boot security code / check removed, purely as a proof of concept. Running != usable.
Wasn't there a rumour of an X86 build too? Wasn't sure if this was developers making a proof of concept or something started on amiga.org purely to fan the flamewars... 
X86 build? I cannot believe that. Steve Solie used a error in a library (that was removed not long ago) as evidence that AmigaOS is based on the original sources. So at least parts of it are even 68k, others are propably asm to be more efficient. If it is not developed from start off to be portable it is difficult to port it to another hardware. One of the MorphOS guys estimated it would take years to port MorphOS to X86 (of course I do not know how long it would take to port a unusable base system) so Hyperion will certainly not be faster.