The IMS Tool Interoperability specification is designed to Learning Management Systems provide tools to other systems and consume tools from other systems using a standards based specification. This project aims to support a lite subset of that protocol to allow SharePoint Web Parts to consume Tools provided by other Learning Management Systems or other Instructional Tools that support this specification.
Please refer to http://simplelti.appspot.com for more details on the specification and a working too provider.
http://www.imsglobal.org for the overall specification and strategic direction.
This specification is changing and development will continue until the specification is released in its final form.