I've published an experimental version of my
bip32utils library and generator script:
https://github.com/jmcorgan/bip32utilsThis is pure Python implementation of the BIP0032 draft standard, as recently amended by Peter Wiulle in a pull request on the BIP github account, and is dependent only on the Python ecdsa library available in pypi.
BIP0032 describes a mechanism for generating a hierarchical tree of ECDSA private and public key pairs in a deterministic way using an initial seed. In addition, one can export an extended private key for a particular tree node that allows generating public and and private child keys underneath, or export an extended public key that only allows generating public keys for child nodes below it in the hierarchy.
There are number of use cases this enables, including single seed backup for an entire hierarchy, allowing auditors to have access to transactions but without the ability to spend them, the ability for a website to generate receive addresses without a compromise allowing spending from those addresses, and delegation of spending authority to keys lower in the hierarchy.
The bip32utils library provides a Python class encapsulating a node in this hierarchy, and a command-line Swiss army knife style script
bip32gen that uses this class to create keys in a hierarchy from either entropy or an extended key import format.
The tests directory contains scripts that verify conformance to the BIP0032 test vectors as published.
This is an initial effort that hasn't received a great deal of testing and feedback, so I would recommend against relying on this for anything but token amounts of BTC until it is more mature.
Feedback is welcome.