> Functions with compiled code referring to address offsets in the closure environment are not printable and I’d hazard to say they can’t be without compromising something else.

Surely these offsets refer to items saved in the lexical or global environment, which were originally named by variables? Then you serialize the variable references and the values they refer to. A shared lexical environment would get serialized like this:

(let ((x 10) (y '(1 2)))
(let ((f (lambda (z) (set! x z))))
(let ((g (lambda (a) (list x y)))
(h (lambda (b) (f b))))
(list g h))))
; serializes to the following,
; with the notation #closure(args body env)
; where env is ((var1 val1) (var2 val2) ...)
(#closure( (a)
((list x y))
(#1=(f #closure( (z)
((set! x z))
(#2=(x 10) #3=(y (1 2)))))
#2#
#3#))
#closure( (b)
((f b))
(#1#
#2#
#3#)))

The runtime system is presumably competent at converting these into machine code, and can do that either during the read, or JIT at execution.

Yes, most of the time, when you print lists, either there is no shared structure, or the program doesn't try to modify it, so it doesn't matter if you read a portion back in and bifurcate the identity. Likewise, for the majority of functions, either they don't share their lexical environment with others, or they do but not in a way where it matters. (This thread's original use case was printing globally defined functions, which usually have no lexical environment.) The common case should work fine like this:

(let ((n 0)) (lambda (x) (incf n x)))
; serializing to
#closure( (x) ((incf n x)) ((n 0)))

If you do need to print a list and read it back in, where it's important that this list shares structure with existing objects, and you're not printing and reloading those objects, then either (a b . #<Object ID 43827>), or, if your runtime doesn't relocate objects, (a b . #<Object at address 0xabcde) would be the way to go. (Note that the GC would have to know not to kill the object; you're effectively persisting a pointer to it outside the runtime.) Likewise, if you do need to print a lambda sharing a lexenv with another one you're not printing, you'd go #(closure arglist body (#<binding ID 1234> #<binding ID 1235> ...)). Of course, this only works if you reify the object in the same running Lisp session from which you serialized it—but that applies equally to shared lists and shared closures.

The question upthread seemed to be whether it was possible to have a language that could serialize functions. I've argued yes. Now the counterargument seems to be "well, it's inconvenient and expensive to get full fidelity".
This brings us to the question of what use cases we're talking about, and how often you want full fidelity (and what assumptions you can make).

I think one of the use cases was printing macroexpansions in the REPL? And then maybe the readability-requiring use case would be selecting a subexpression and saying (macroexpand-1 '([paste])). The literal functions in the expansion would generally be globally defined—the result of using ",+" instead of "+". Well, I think that's covered reasonably well by having the globally-defined function "foo" get printed as #f:foo or something like that. (Maybe we could use the syntax #'foo to mean that? Hah.) It's less nice than seeing the bare name, but macroexpansions already often contain gensyms and package prefixes.