Lets face it. It will take a loong time. I've been waiting and asking for Videolan Teletext decoding for a year...
In late July this year the DJ said:
i have DVB-IP Systems B Teletext decoding working now
We have not heared any news since then.
viewtopic.php?t=5641&highlight=teletext
If you look at VLC track, Ticket 77 (Closed captions / Teletext support).
It has a very low priority, and is under Features Paradize. This means it does not have a set release, not for version 0.8.6 or 0.9.
I think the DJ tried to make it work for 0.8.6, but ran into problems.
I do not know if he gave up or just postponed it until later versions.