Hi Raiko,
well,well... Concorde XAL. That must be seven years or more ago now that I last heard of it.

To answer your question: To my knowledge, there are some tools at hobbes for dealing with TTFs under OS/2, but most of them are rather to convert them to something. I don't know of any program available for OS/2 to *create* TTFs, since that format has not originated at IBM

I know of professional programs to create TTFs, but the good ones are expensive.

And they don't run on OS/2 nor are they platform-independend (dunno if there is any chance of a java version of such - might be worth trying to look for, which I didn't do...)
The only thing that comes to my mind is that -IIRC- CorelDraw was at some point able to create TrueType fonts (although not THAT easy... anway...) perhaps one of the latest OS/2 version of it is already able to do it? IIRC creating a TTF is basically the same as doing vector drawings (per character) and then just making sure to "compile" them into the correct format... sounds like one should be able to do that perhaps with other "drawing" software as well...?
No guarantees however.

Hope this helps... cheers,
Thomas