I really haven't heard of such a thing. I'm sure they exist. It's really just another compiler compiler type of thing, with a GUI front-end I guess.
I can't say if they're useful or not, they seem proprietary. I have seen some really nice proprietary stuff. Unfortunately there was a HUGE learning curve, and it's a complete lock-in. I saw this one tool, it was AMAZINGLY powerful for creating PHP/mysql things, it was so nice, and it even set up the server,sql server, and PHP for you. I mean, you can basically just pop right into week 2 or 3 after a few minutes. Unfortunately, the back-end was a GIANT FREAKING MESS. The database schema was complete trash. I don't just mean garbage, I mean there was nothing correct at all. Everything was obscure and there was an unacceptable amount of repetitive data. It used two tables for something that requires at least 6 (at 3N anyways). All of the columns were named 'n','v','w'... Now editing something in this system requires I have the software which is a lock-in if I've ever heard one.
Sure they're faster, but what's the trade off?
It sounds like something for a business environment, not a hobbyist. Make a video of you using one and put it on a video host so we can see what it looks like and the end result.