There is something I don't get it there though. Wouldn't you, with a debugger for instance, be able to see the program as it would have to deobfuscate itself for the processor to understand it ?
I'm pretty sure that this wouldn't be safe. By simply disassembling the software you would see the strings stored in the application itself, so you could easily find any password stored that way.
I guess you'd also need a larger battery if you were to both compute graphisms and deal with the synchronization with other peoples over the Wifi. Plus it'd be lighter and in case of any collision there would be much less hardware that could be damaged, so I think sending rendered images over Wifi is actually a pretty cool idea