Hi,
I've been working on a related problem recently, so this may sound interesting to you. I've developed a SLAPI plugin that implements OATH HOTP authentication as LDAP simple bind. Token objects are stored in LDAP directory; synchronization is implemented as an EXOP. SLAPI implementation in OpenLDAP lacked EXOP support, so I've fixed that, too (and I'm going to submit a patch soon). The project is being prepared to be published under an open license. If that sounds interesting for you, don't hesitate to drop me an email.
I'm also planning to port this plugin to OpenLDAP's native overlay API.
Dimitri