The toolkit is going to be released as a commercial product.What engine does Game Of Engines use?
Game Of Engines currently uses the Casino Royale game engine to power it's creations - The Casino Royale engine has lua script support which is something that we have strongly tried to integrate into the toolkit for 1.1 The engine can run your games at high speeds without the need for a game loop to run. At the moment, you can go with the simple action based events or try and create your very own game loop. I would also like to add that we are currently working on a new engine called SkyFall that will take Casino Royales's place. SkyFall will run SFML and will be able to handle better game speeds.
It's developped by three programmers and i have contacted the lead one regarding state of Sega Dreamcast port.
Currentnly basic games made in the engine can be played on Dreamcast already and they plan to begin heavy development integration on this console in January.
Screenshots from current and previous versions:



Source: http://www.indiedb.com/engines/game-of-engines