To prevent myself from backing away from this, I've gone ahead and requested a new project on Eduforge.org to host the mythical EduGlu application development.
I've got no idea what this thing might be - not even what language it will be written in - but I'm sticking a flag into the sand to say I'll help build this sucker.
It's going to have to be a spare time / after hours project for me, since I'm already way booked at work. If it turns into anything, I'll try to address any issues that come up there. That'd be a good problem to have, though.
The project hosting hasn't been activated yet - could take 72 hours - but it should show up https://eduforge.org/projects/eduglu/.
Anyone else want to play? I'm hoping to do the whole thing out in the open, with an Open Source license to make sure it's available to anyone. Next step, to brainstorm what this thing should be capable of. There will be a project wiki space when it's been activated by the folks at Eduforge.org...