Hi Chet....
I am a recently graduated Electronics Engineer myself. Now a self-employed freelance engineer for various companies...
I've been following you since the start with this project as I have always wanted to do something similar myself. Unfortunately I just haven't had the time to get out there and start from scratch like you have done, and I think highly of you for that. Unfortunately I have too many personal projects of my own including a full EFI system for automotive use (my final year project, and now a commercial project) to do this.
I think its a great idea as a university project to do, but I think there is a commercial application for this, all be it a slightly limited market, I wouldn't knock it. Because of this, as much as I would love to know the protocol ect... I think you should probably keep your cards close to your chest with this one. Although I think it is very kind of you to say it would be open source, I think you should use this as a university project, and then market it after! (Make sure you ok this with the uni first.. they like to keep the IP of your final year project if you don't state your intentions....)
Having said all of this, I would be very interested to test, and willing to support you with your project in anyway I can.