Actually, this could be done in Hijack as well, by having Hijack (kernel) do transparent decompression, transforming the file into a .wav before feeding it to the player.
Hijack would also have to trick the database rebuild into thinking that the codec tag was "wav" instead of "monkey".
Not terribly difficult, if somebody else were to write a stream-based decoder for it, that takes a filedescriptor & buffer & bytecount & offset as parameters, and returns that many bytes from the decompressed file, without excessively re-reading it (though probably fine if it did).
Cheers