LLVM IR is a fairly high-level, typed bitcode which can be directly executed by LLVM and compiled to JIT on the fly. It would not surprise me if a new executable format or programming language was designed directly on top of LLVM, to be executed as if it were an interpreted language.
In this regard, I am curious as to the state of the art on LLVM decompilation. Because it is a typed bitcode specifically designed to be easy to analyze, one might expect that it is relatively easy to decompile (or at least reassemble into a more readable or logical form).
Googling turns up this BSc thesis which does a relatively rudimentary job, but seemingly few other leads. I might have expected this fellow's supervisor to have done some further research in this area, but it seems his focus is more towards the compiler design area of research.
Are there research projects, commercial prototypes, or even any kinds of active research being done in the field of LLVM decompilation?