I didn't see that console before. Since it isn't that popular, I wonder if it's open like the 3DO? It would be interesting to see if homebrew is possible on this.
I'm surprised that you were not able to see it even once, you must not be hanging in toy stores.
They are a lot of V.Smile out there, yet it is little known. (yes this is paradoxal but the same applies to some popular mobile games as well)
Homebrew is, with some effort, very possible.
Unlike the 3DO, which required unlicensed game to be signed, the V.Smile Pro has no encryption or copy protection.
In addition, you can easily see the game's files by simply pop it in your cd drive, it uses a standard ISO layout.
The files also do not need to be set at a certain LBA adress, as if you delete and put it back, the console will still play them.
Any decent hacker should be able to show a hello world on it.
Plus, the V.Smile Pro is not rare unlike the 3DO and you can still get it easily.
The only problem is the unsual binary format, which is, according to MultiMedia Mike, a chunked FourCC format.
It seems that they used GNU AS as the assembler and looking at my Scoobydo CD,
the game was programmed in C++ so they might have compiled their game with GCC.
(Silly devs compiled their game with debug symbols :p)
Lionel told me in IRC that i was not the first to attempt this.
I wish previous attempts were not aborted by lack of interest...