Sorry for the outdated info - this was actually fixed in the most recent nightly build ("AROS-20101124-amiga-m68k-system") which I just tried now!
This project is moving FAST - the build from the previous night is the last one this problem applies to.
This does now attempt to launch binary AmigaOS apps, sometimes with success.
Edit: This now includes much of the C directory of Workbench.
I successfully launched the Clock utility taken from Workbench 3.1 - it works fine on a fast WinUAE setup (provided the clock date is disabled)
P.S. I'm loving the mouse scroll-wheel support!