The file format of LiveCode scripts is a binary, with a checksum at the end of the binary to verify file integrity. But some parts of the code are maintained as is, in text format. If the file becomes corrupted, it is still possible to get the scripts of the objects.
But treat this as your last chance. Use a text editor to open your LiveCode file, this will definitely corrupt the file. So only work on a copy. With the LiveCode file open in the text editor, it will show you something like this:
Find the parts that are text, then copy and save them. You will have to recreate the objects with the LiveCode IDE. Then copy and paste back in the code you saved. This is alot of work, but it may be your only option.
This plugin that make backups automatically could be safe your works: http://livecodeshare.runrev.com/stack/799/Auto-backups
Scripts only stacks[]
Version 8 of LiveCode introduced a script only stack. This type of stack has only code and no graphics. The file format is pure text, like:
script "test1" put "hello world"
However you can't create a standalone from a script only stack, at the present it's just a prototype feature. If you need a script only stack use the procedure described in this page: Run only in shell script mode