Seems to be an attempt to produce a decompiler for executables. I quote from the website: "This project is an attempt to develop a real decompiler for native executables through the open source community". Binaries available from the website are outdated so I suggest to checkout the current from cvs. I managed to build it with Linux but had no luck with msvc or MinGW. Btw, they offer money to people to fix bugs in the program.

hxxp://boomerang.sourceforge.net/