Do ... as Applescript, bugs??

[Andrew Meit]

I give up. It appears do AS is somehow picky/buggy or what...here is my simple code:

copy to clipboard this: --testing code

I have the AS code below in a field:

tell application "AppleScript Editor"
activate
set fpath to "/Users/ScholarMeit/Desktop/As tests/moving window"
make new document with data the clipboard
compile document 1
save document 1 in POSIX file fpath as "script"
close window 1
end tell

With this script for the field:

on enterinfield
do (text of me) as Applescript
put the result
end enterinfield

I tried both the latest beta and latest shipping version, both hang. I am using 10.6.3. iMac 21.5.
It will work once and then on next time its called Rev hangs a long time then report an error. 
AS code works without error in Script editor.

It was supposed to help me work faster...any clues? Thanks. Andrew