You need to use PyPy to run this. To get started, using a recent virtualenv (1.6.1 or newer), virtualenvwrapper, and a recent PyPy.
PyPy versions correspond to jitviewer tags, so pypy-1.9 tag in jitviewer means it works with pypy 1.9.
On Mac OSX you will also need to install binutils, to make objdump available.
To create a virtualenv (note that mkvirtualenv only accepts absolute paths):
mkvirtualenv --python=/path/to/pypy pypy-viewer
Now install the dependencies:
pip install -r requirements.txt
python setup.py develop
It also requires pypy to be importable (as in source code), you can do this by setting your PYTHONPATH enviromental variable.
Finally, run it:
where log.pypylog is a logfile generated by PYPYLOG=jit-log-opt,jit-backend:log.pypylog pypy <args>. An example log file comes with a checkout.