I could be interested in working on this, if you start to write it, please consider to include also me.
About this idea...have you thought about the possibility to use collection nodes on the server side, to implement this? My suggestion for the subscriptions using wildcards is to use the collection nodes provided by the XEP-0060 (http://xmpp.org/extensions/xep-0060.html). The idea is to create a hiearchy of nodes, inserting the ones of the "Things" (leaf nodes) in collection nodes related with the type of data published or their location. Then, when the server component receive the subscription containing the wildcards, it can translate the request in a subscription to the collection node(s) corresponding with the request.
This message may contain information that is not intended for you. If you are not the addressee or if this message was sent to you by mistake, you are requested to inform the sender and delete the message. TNO accepts no liability for the content of this e-mail, for the manner in which you use it and for damage of any kind resulting from the risks inherent to the electronic transmission of messages.