It was a great idea in the 80s, or even in 1995 when I tried it out myself. A lot of those ideas were cherry picked by people like Dave Thomas (OTI) into what later became IBM Smalltalk/Java VisualAge and eventually...Eclipse. Ya, the real world is a bit messier and no one has brought images over BECAUSE we couldn't make them work in practice, but 95% of the ideas have been transferred.
I find what Bracha is doing in NewSpeak to be much more interesting and up to date with modern times. Just rehashing a 20 year old interface and putting it in the web is great from a retro perspective, but it doesn't move us forward at all.
It is high time to move out of Smalltalk's shadow.