Why does this need to be a standalone tool? I can already do this in Emacs by pasting emacs-lisp code snippets and executing then while editing the file, inserting the output into it. Do other editors not have this feature?
Using your emacs-command would defeat that purpose, because you would need to search the region at every run and re-execute it manually again and again and again. And you would need to documentate the command anyway, because nobody can remember all those regions. So why not automate this task then?
It needs to be standalone so that you can make it part of your build process instead of messing around in some text editor that not everybody wants to use.