In the book, Bob says he designed the language such that it would be possible to use just one stack. What does that mean? It sounds very discouraging for newbies because it implies a lot of foresight or trial and error.
Overall, while this is among the most interesting subjects covered, I find the chapter a bit lacking in either one of two ways: either it is for beginners, and then the chapter feels very magical or is for intermediates and then a bit of extra verbiage on the design choices that led you there would be appropriate.
Nitpick: I would totally have stopped low and done the -1 initialization trick as well. But yuck. ;)