I think the simple answer is that he hasn't needed that feature. 'memo and 'defmemo are used in 5 places in news.arc and it doesn't look like any of those uses would benefit from allowing nil as a value.
If someone created an application that benefited from that feature then perhaps there would be reason to redefine 'memo.
This seems to be an important part of the Arc philosophy: add a feature only when its absolutely needed.
Only now I realized that you treat memo as some kind of the way to improve performance (do you?). What I used memo for is to make sure that function won't be called twice:
When I use lazy sequences (of symbols read from input port for example) based on these definitions I can't be sure that readc somewhere inside will never be called twice if I call force for an element of this sequence twice.
So I treat this as a bug. Or maybe I'm just wrong about what memo is for at all. Am I?