This makes some very naïve assumptions about the relationships between entities in a program; in particular that you can make arbitrary assertions about the rep

This makes some very naïve assumptions about the relationships between entities in a program; in particular that you can make arbitrary assertions about the representation of already-allocated datastructures across multiple versions of a component, that the program's compositional structure morphs in understandable ways, and that you can pause a program in a state where a component can actually be replaced. By the time you have addressed these, you'll find yourself building a microkernel system with a collection of independent servers and well-defined interaction protocols. Which isn't necessarily a terrible way to assemble something, but it's not quite where you're trying to go...