Modk.it is 'inspired' by http://scratch.mit.edu/, Scratch is developed by the Lifelong Kindergarten Group at the MIT Media Lab. Scratch is Open Source, runs on Windows, Linux and Mac, and if you want to experiment with it on a PC, can be downloaded now, for free. Scratch is written in SmallTalk, and runs on the portable SmallTalk 'squeak' VM (which is itself written in C).
AFAIK, Modkit is the work of an individual.
I've been working with a friend who teaches teachers and primary school children Scratch for several years. The children are 7-10 years old, and get to grips with programming using Scratch in minutes. Scratch removes all the problems of learning syntax, which typically distract new programmers for the first dozen hours.
Scratch is not aimed at replacing C/C++. It is superb at enabling someone who has never programmed to program.
IMHO, the huge advantage of Scratch over flow-chart based graphical programming systems is Scratch does not damage people's understanding of programming. Scratch blocks are direct cognates for real, modern, programming language constructs; in Scratch an "if ... else ..." is a single block, not some 'accidental' combination of flow-chart boxes and lines.
I have been working with a large UK University to develop a physical computing board so that people who use an extended version of Scratch can program using real-time sensors, motors, servo's etc. This system is capable of being used for a much wider range of problems than Scratch.
It is not clear if Modk.it will be Open Source