This assumes that the applications are provided fully compiled to object code. In situations where the applications are provided as bytecode (e.g. Android Dalvik) or are interpreted (e.g. Python) the applications of which you speak will run just fine.
...which (probably) explains why Google seems to be so interested in this new architecture. Besides Dalvik this new CPU architecture could also be used with the new Portable Native Client (PNaCl) which uses LLVM to compile to an intermediary bitcode. From this perspective, the Belt architecture makes a lot of sense.