Marc Alier and Jordi Piguiem-Poch have started the code to producer the Moodle Basic LTI Consumer.
You can follow along at this Google code site:
http://code.google.com/p/basiclti4moodle/
You can also see Marc’s LTI Video from last years IMS Learning Impact here:

This clever video explains how important it is that LMS vendors need to implement IMS LTI as soon as possible!