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EDGE doesn't "issue" instructions in the same way that a typical processor does, but instead issues data to a set of execution units that have been pre-issued with instructions. The allows it to offer considerable parallelism without difficult programming. It would be worthwhile reading the resources available at the home web site here http://www.cs.utexas.edu/~trips/ before posting more.
As for making it open source... ever tried to work on something for seven years without corporate backing?