No, there's will still only be one official compiler – the one written and provided by The Rust Project.
> If Rust wants to supplant C in embedded, a specification is required.
You're getting your history backwards.
C did not become successful because of its specification, it got a specification because it was successful.
Similarly, if Rust becomes successful enough, it will probably get a specification. But the popularity will drive the work on a specification, not the other way around.