To elaborate a little more on Ed's explanation; I'll add that we (the Cesium developers) originally did not want to invent yet another specification (i.e. CZML) but ended up doing so for the reasons Ed mentioned. As they say, necessity is the mother of invention.
Ultimately, the KML standard can not express the time-dynamic nature is inherent in CZML. While there are non-standard extensions, such as Google's gxTrack, that allow dynamic positions; that's about it. There's no way to express other things, such as billboard properties, polyline geometry, etc.. that change smoothly over time. We thought about adding our own KML extensions, but realized by the time we were done, the resulting files would be nothing but non-standard extensions and effectively useless in Google Earth and other KML apps. On top of that, KML is xml based and we wanted to come up with something that could more easily be leveraged inside of the browser.
If someone want to write a CZML -> KML converter, I'm all for it; just realize that you wouldn't be able to implement the full CZML specification (which in itself is still under heavy development). On the other hand, I would love to have the time to experiment with implementing CZML visualizers for Google Maps, so that you could load CZML into Google's own web-based control. As far as I know, that is completely possible and If anyone wants to work on that, let us know.
I've droned on for far too long; but I hope that sheds some light on our motives. If you have any thoughts on the matter, please let us know. I'd also love to know why you were interested in such a capability to begin with, because we can hopefully help you find a good solution.
Matt
As far as I know, there are no efforts to go that direction, czml to kml. The hard part is that czml is designed to accommodate time-varying values, like the paths of aircraft and spacecraft, where positions change smoothly over time. Certainly kml can show a simple line for the path of a vehicle, often with markers on it indicating key times of interest. But you wouldn't get a file that could produce the same smooth motion as czml. Perhaps kml export is still worth doing, we would love to hear from anyone who gives it a try, but it's not on our list at the moment.