This is an interesting concept. I've never thought of using Unix pipes style text syntax for musical effects. I know that some of the visual music programming environments work in a similar fashion, where effects are defined and then linked together in chains (see Supercollider or PureData, both open source). Perhaps some of the livecoding musical langauges work similarly, I haven't dived in to see how the syntax on them functions (like Impromptu http://impromptu.moso.com.au/).

Keep us updated if you make anything cool in this space.