Basically will be a family of BASIC-to-C/C++ translators, able to use multiple dialects of BASIC on the input side, and producing ANSI C or C++. (Note that the old name, "Visible", is still the name of the classic VB translator.)
The ULM.gen project is a framework that help building and customizing source-code generators from a UML model expressed as XML documents, using generation templates. It also provides tools for synchronization with UML modelers such as IBM Rational Rose.