It seems to be meant for research and development, not as the asteroid from the lex manpage. It would make sense as a teaching language for compilers, too. The people who need to know how Lex and Yacc work could read the Dragon Book later.
I wonder if Alan Kay and the Viewpoints mob knew about this, and if so, why they bothered with O-Meta?
It has been used successfully in production. According to this webpage http://www.infoq.com/articles/dsl-interaction-txl it was used for Y2K analysis and conversions of over 3.5 billion lines at IBM Global Services.
The font makes the page very hard to read and lends an impression of silliness to what is obviously a very serious project.