Here is a very primary stage code I had put together which should act as a motivation for working on this further.
Here is an initial spec for the plugin.
Wrap a word in composer with [dict]word[/dict]. The meanings of the word will be fetched via a dictionary API (oxford or other) and the user will be asked to select one of the meanings which suits the context of the word in the post preview.
The user will select a meaning and when the post is created, hovering on the word will show a small speech bubble with the word’s meaning that the user chose.
The plugin will store the meaning of the word which will act as a cache to reduce the number of api calls over time.
This is not the final spec. It will go through multiple revisions to finalize what the spec will look like.
What I suggest here is, as this is a fresh plugin, we should start writing tests and think about versioning from the get-go.