The data appears to be in RAM, but there's no clue about?how it's loaded.? As written it should be all zeros.
The schematic is also a bit suspect if you ask me, he's using just a plain jane 74LS245 running on?+3.3 as a level converter.? It might work, but it's certainly not "by the book".
I knew Teensy's were fast, but I didn't know they were 600 Mhz. If you go to the top project you see he also has a ton of emulators based on the Teensy which are CPU replacements.