There's already the Arduino DUE, which has the Arduino form factor and pinout, with a very lightly configured ARM processor. It's supported by the Arduino toolchain, and you get more memory and a CPU with floating point hardware. It's far too small a machine to run Linux, but it's the next step up when an ARM CPU is just too wimpy.
How do the two CPUs of the TRE talk to each other? Shared memory? I2C? USB?