Heh! People are going to accuse you of being our alt, Morgaine

Basically, everything youve listed, we've pretty much set as guiding principles for OSMP, and I think we're doing a fair job.
Going through your requirements:
> have a better architecture with distributed content and distributed processing
Anyone can host a sim. You can hyperlink between sims. Each sim has its own asset server.
There is an authentication server available to make hyperlinking between sims completely transparent. Authentication servers will form trust relationships using Kerberos.
> be built on ultra-modular incremental foundations (because monolithic offline software updates don't scale),
OSMP currently contains roughly five separate executables on the server, and three or four on the client + a Physics dll.
The executables communicate between each other using XML over sockets IPC.
It's totally possible to rip one executable out (eg physics dll, or file transmission exe) and replace it with another.
> be founded on a paradigm of total distrust between all communicating entities, in addition to basic network protection,
I guess I touched on this in the distributed architecture section above.
Anyone can create a sim. You assign a sim to an authentication server. When users connect to your sim directly, they are redirected to authenticate with the authentication server. Once the auth server gives the greenlight you're in.
Multiple sims can connect to a single authentication server. Once you're authenticated with the authserver, you can hyperlink transparently between all sims connected to that server.
You can authenticate with multiple authservers - as can a sim - to be able to transparently hyperlink through multiple authserver webs. You obviously will have to log in once to each authserver, but after that it's transparent.
In the future, authservers will be able to trust each other, eg using Kerberos, forming webs of authservers and extending the extent to which hyperlinking stays transparent, no need to authenticate with each individual web.
> be language-agnostic not only for user scripting of object behaviours but also for incremental core developments, and
Each executable within the system, and as we have said there are a few, can be written in any language you choose.
Currently, we are using C++ for most things and Python for the GUI, but that could change at any time.
Forking is encouraged. It'd be great to see two renderers for example: one in OpenGL, one in DirectX; or two physics engines, one based on ODE, one based on... something else. And this is all consistent with the architecture.
As far as the actual scripting engines, a scripting engine is simply a client to the system like any other, with certain privileges, locked to its IP address. The client communicates with the server infrastructure via normal XML over sockets IPC. You can have multiple scripting engines and they can operate absolutely in parallel with each other.
Currently, we have a demo that uses C++, because there's no reason why sim-global logic cant be implemented in C++, and a Lua engine, which executes scripts assigned to objects within the sim, analogous to LSL. But better.
> be client platform-agnostic since a community metaverse doesn't have the limited horizons of a commercial product.
OSMP runs over platform-independent toolkits so is generally portable. We are using:
- ODE Physics Engine
- Lua Scripting Engine
- SDL
- TinyXML
- pthreads
- MySQL database engine
- OpenGL graphics engine
Theres a detailed architecture description here:
http://metaverse.sourceforge.net/architecture.html(or go to
http://metaverse.sourceforge.net and click on "OSMP Architecture"

For examples of things you can do in OSMP which are difficult to achieve in LSL, please see my signature.
If you could be interested in contributing, please dont hesitate to get in touch.
Azelda