As a guy that works for one of the major banks in the US as a developer...the restrictions placed on even our development boxes is rediculous...HOWEVER they don't seem to give two craps about javascript...so this would be a GREAT capability for me to have and extend my workstations capabilities in a myriad of ways...
I can't wait for this! I might have to try and contribute if I can actually...
ChromeOS IDE for developing on Chromebooks.
Node.JS blog engine with git as the database.
Custom Git hosting using custom storage back-ends.
GIT CLI for restricted environments.
Standalone GIT GUI desktop app.
Git based deployment tools.
JavaScript package management for server and client.
Whatever else you come up with.