Ethereum Full Transparency is a feature that has recently been added to the live.ether.camp blockchain explorer. It now allows the user to explore the operations of a smart contract in both interpreted and raw form. It's the most interesting exposition of the inner workings of Ethereum to date and definitely something everyone should take a look at.

@mandeleil
@arthurfalls

live.ether.camp
ethchamps.org
etherreview.org