Programming for Symbian in Python is pretty neat, but judging by the "TouchStudio" name I would guess this differs by being oriented toward editing on a touchscreen.
I think the question of how to effectively edit code on the go on a small portable device is an interesting question. Typing typically is pretty slow even on the few devices with a dedicated keyboard, and special characters tend to be hard to type.
I personally believe there is promise in a language with a simple structure, maybe something LISPy, intended for a more effective use of the the touch screen than letter-by-letter input. Possibly something similar to Lego's RCX code, where you drag and connect statement, control and value blocks in a pretty intuitive way.
Another possibility would be to have an adaptive keyboard with buttons for keywords and variable names that depend on context. Or program in APL, so commands are just one letter long anyway.
I'd have appreciated if they had provided a video of the editing interface.