telepathy-python is a Python package containing base classes for use in connection managers, and proxy classes for use in clients. It's used in at least Butterfly (an MSN connection manager).
telepathy-python should be considered deprecated and should not be used for new projects
It is recommended to use pygobject and telepathy-glib. Some examples can be found here
Releases are available from: http://telepathy.freedesktop.org/releases/telepathy-python/
The current version is in git:
git clone git://anongit.freedesktop.org/telepathy/telepathy-python
Bugs can be reported on the freedesktop bugzilla, product Telepathy in component tp-python : https://bugs.freedesktop.org/enter_bug.cgi?product=Telepathy&component=tp-python