Hi edtechdev. I'm the author of grimwire - thanks for posting.
You have it pretty much covered. The intent is to use REST as a unified interface for remote services and local programs, much like Plan9 did using the file-system. The Worker programs should be compact, stateless Webservers that can be reconfigured into multiple use-cases. You can compose by doing things like embedding (UIs should be self-contained) hypermedia discovery (using programmatic link navigation) and proxying. I'd like for it to be possible to take (eg) an inbox interface program and attach it to a bash-piping backend (rather than a webmail host) to create an in-browser CLI. Not sure if that's a good idea or not, but you get the idea - a good grim app can bend.
The other major goal is to detach the Web app frontend from the back - to improve privacy, to let users improve their Web software, and to enable decentralized architectures (which I talk about in the article). A major factor in doing that is the security model, which would have to become more fine-grained than the single-origin policy. Web Workers make it possible to run untrusted code, and privacy policies can be built by monitoring HTTP traffic (all of which go through the document) but I should make it clear that there's a lot of work to do on security still, so stay away from untrusted code when you use grim 0.1.
I've still got about a month of shaping up to do, including doc-writing and getting some pre-freeze feeback from devs. The only documentation that's current is in the build (http://grimwire.github.io/grimwire/) and it's in progress. Please ignore everything else, including the stuff in the GitHub readme and wiki.
If you're in Austin, I'll likely be speaking at next month's JS/Node meetup (http://www.meetup.com/noders/) so please join us.