I just wrote up my understanding of Solomonoff induction. Unfortunately it's a PDF, since I wanted to try out GNU TeXmacs. This might work for the "Binary Sequence Prediction" section:

http://www.ocf.berkeley.edu/~ehy/solomonoff_lightsaber.pdf

It's my first time doing this kind of thing, so please tell me how I can improve! Also, I tried to be careful, but I'm only a freshman, so I may have seriously misunderstood some things...