I guess I don't understand your reply.

The compiled code is effectively a global variable that cannot be read

My thought was that the compiled code would be a normal sub living in the stash like any other normal sub. Of course, any normal sub is "global" in that it can be accessed from anywhere via it's package name if that's what you mean.

modifications to it invalidate perl's method cache.

While it's true that re-requiring a module probably wreaks havoc with Perl's method caching, in the examples I have the calling module get a reference to the compiled sub. My thought was that since the calling module would *not* be re-required but act more as a normal module, all caching should work as usual.