I have actually thought about it
And I'd love to apply an open source license!...
But... At this stage, I work for a software company where my contract is a little grey.. My contract technically states I'm allowed to work on code outside work and retain ownership of code I write, which is a good thing. But I run a risk that my code looks too much like my code at work, and could appear to be plagerised (which it definitely isn't, but it could appear that way to the untrained eye since I use the same styles, habits and terminology both at work and after hours).. What I need to do is get someone from work with the authority to make a call to have a look over it and validate that its not work code and its okay for me to release. Unfortunately, not many people at work are comfortable to make such a judgement in case it turns out to be a bad decision down the track and they become liable, and people with the proper authority generally don't have a lot of programming experience.. So until I can sort that out, it remails unlicensed.
If you're interested in the project, I could grant you personal usage rights to have a play with, with the agreement it wouldn't be distributed in source. At least until I can sort out the licensing problems.
Binary distribution is fine.