Something lightweight like this would be nice on a low powered device I call a "transaction computer".You could transfer your coin to your ultra secure "transaction computer" and know there is an extremely small chance any trading is trackable or logged.Maybe such a device would only connect to the network to send and receive your coins and then close up tighter than a fish's bum otherwise lol.
The transaction database isn't really lightweight in terms of disk space, especially
if bitcoins become popular.
So, if a transaction computer needs disk space, why not install a normal distro with better support?
Any micro-distribution is going to be under-audited, and suffer a lag time on security patches to the base OS -- not exactly the ideal target for a "locked up tight" transaction computer.