This sounds good. Presumably this would also mean that the students could create a complete application that could be shared with friends through a USB stick?
Will it be possible to install this onto the system? I expect some schools will have the computers locked down preventing running executables from a personal USB drive, or from their home drive. I believe this is what the admin's have done to restrict students at a school I've been helping out at (although I don't know the full details of what's locked down). I expect this can be installed to an appropriate folder by an administrator and then be made available to users, although it will probably need instructions on any specific changes required, or perhaps a script or installer to install appropriate icons etc.
I'd also be interested if this can incorporate pgzero - presumably that is something you would be the expert on.
I'm happy to help out. If you can put details up for how the build works so far then I'd be interested in seeing how I works and how I can help contribute.