I wouldn't call the concept itself too far-fetched. As a learning or teaching exercise, though, building virtual machines, languages, JIT compilers and the like is very interesting. I'm assuming that "Sol" is a play on "Lua", because both virtual machines seem similar.
A play at Lua: Definitely so. As mentioned and referenced in the article, Lua has been a major source of inspiration. As "lua" means "moon" in Portugese, it was only suiting to name "Sol" "sol" for "sun" in Swedish (my native tongue). However, as @chubot informed me (in a comment here on HN), Lua was once called "sol", or at least "sol" was considered for the name.
