I recommend you read The Unix Programming Environment which gives many illustrations of how the Unix 'text streams' model works in practice.
One of the authors of that book and other folks that created Inferno (and Plan 9 and Unix) are now at Google working on Go.
Go channels are obviously not the same as Unix pipes, but there are similarities.
http://www.openmirage.org/wiki/papers (down now, doh)
Seems to have some similarities to halvm.
Hacking is going pretty well on Mirage. The longer-term plan is to generalise the support libraries to work with other languages (particularly HalVM and GuestVM for Java), but it's far simpler to work with just OCaml for getting the first cut out. The Xen Cloud toolstack (also written in OCaml) is currently being adapted to support low-latency microkernel establishment, which will remove much of the hassle of coordinating multiple Mirage 'processes'.
Another interesting performance-related aspect has been the heavy IPC workloads that result from using many VM-VM interconnects. Some early benchmarks in http://anil.recoil.org/papers/2012-resolve-fable.pdf .
As an aside, I'd like to see people experiment with these concepts on an OS level while consciously targeting Xen or other virtualization systems. Already, Haskell can run barebones on Xen using HaLVM[2] and the successor to Plan 9, Inferno[3], was a virtual machine that could run either on bare metal or inside another OS. I can imagine an entirely new OS would meet some resistance—like Plan 9 did—but supplying an OS intended to be virtualized would let people experiment freely within their existing OS.
[1]: https://github.com/micha/jsawk [2]: http://halvm.org/wiki/ [3]: http://code.google.com/p/inferno-os/