I can quickly learn code, once you learn a certain language 'archetype' you don't really learn languages anymore... you just, rapidly refresh a particular set of semantics and then promptly forget it when you're done with it, hah. Or at least, I do... If I were to attempt anything like this, I would probably do it from scratch, using 'engines' like those would probably frustrate and slow me down more than not. Just getting straight into it is simpler, it guarantees you don't run into 'engine limitations' later that you have to work around to get what you want, and it's that much less to learn.
Besides, I would strive to replicate every position, font and graphic perfectly, not just, nearly perfectly. It would only be to improve the code structure, I'd make a point of not sneaking in any subtle changes.
And by Python, I meant the same, to do it without any game engines like Ren'Py, then compile it to C, and compile that to flash. But just HTML5 script would probably be best, and highly portable and browser ready.
I would need a looot of encouragement to do such a thing.... Kitteh mentioned an "HTML version" in the first post of the mod thread, but I'm not sure how that's coming.
edit: Thank you for all the references, as I really don't know anything about these tools (or this 'genre' of games), and would not have found them myself.