Chrome OS has vim preinstalled. I would like to add Emacs in terminal mode. I have not found any leads by searching the internet. My question is:
How I can Install software locally on Chrome OS?
ChromeOS is not derived from Ubuntu. I don't think you can install any software on it unless it's a pure web app. BTW, if you wish to have a nice editor to write code try cloud9 (or some other online editors/IDE that gives you powerful options to develop). Here is a short post I've wrote on the options we have today in ChromeOS: http://greenido.wordpress.com/2011/07/04/web-developers-and-the-new-chromebook/