While your code is submitted as text (it's an interpreted language, not a compiled one), it isn't available to any other channels or the owner of the box. It's locked into it's own sandboxed environment when run.
If the main purpose of wanting a shared object or code obfuscation is to prevent other channels from getting access to your code, I don't think that's much of an issue. If it's because you want to provide libraries for other developers to use (paid or not) but don't want to share the code, that's what licenses are for.
Obfuscation is generally accomplished by removing unnecessary formatting and randomizing variable names. BrightScript has more required formatting that javascript (although much of that can be done away with through use of : to chain statements), but to ensure that after altering your program it still runs correctly I think you would want to have a good grammar for the language and generate an AST so you could ensure whatever format your output is syntactically correct. At that point, you might as well just write a full BrightScript interpreter. (we have played with the idea...
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-- GandK Labs
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