Another thing we could focus first, is to find a way to speed up the loading of large models.
I have two models on my back burner, each of them with more than 40,000,000 triangles taking more than 2 minutes to load from disk.
There is no way to speed up loading of text files. OBJ files
are text files. Any other type of data representation in a model
is not an OBJ file.
The only strategy you can try to speed it up a little would be to abandon slow sequential
fgets() and read the file as a whole (or in very large chunks) in memory first and then parse it directly in there.
So far OR was designed to render 3d models and we can manipulate the model with the fingers or a touch pad.
Then this is where and when OR development should stop. The splitter was already an overkill and nothing but a piece of bloat.
And indeed the best solution would be to create a new editor application companion, to keep the viewer simple...
As seen from your quotation here:
<< This is what C4D is doing using distinct application modules;
BP 3D paint
BP UV edit
Modeling
Standard
Visualize >>it is not the editor that is the back end companion. On the contrary, it is the viewer that's a utility attachment to the editor ecosystem.

... to avoid code duplication from one module to another ...
What pertains to the OBJ loader proper is Mobj_importGeometry (1st and 2nd passes) and Mobj_importMaterials. You may isolate them in a separate mobj.h file and compile it in a distinct DLL if you want to promote your application architecture.
Whatever else that's currently there in the project are pure renderer features and options irrelevant to the model data format that you happen to load in what is now called
ObjReader using other similar DLLs, in which case the application will have no more rights to be called
ObjReader any longer.
Note that what
ObjReader effectively renders ATM
are not OBJ files any more but effectively data in the application's own internal representation (mesh and material structures, vertex VBOs, texture maps, etc.) of the same.
... and we must restore the whole mobj.dll concept ...
You may,
I won't. Not interested.
What attracts me primarily in this project is the editing functionality of the application that's not readily available nor handy enough in the existing editors.