I've already thougt about it a little. and come up with some possible solutions. Not complete one, but partial, let's see:
First, there some singnals that makes no trouble - like MOD, U/L and LBR. They are static signals, no problem.
SPS signal looks like to be equivalent with VSYNC, or possibly shoud be connected to it and generated that way.
Then there are LP (Latch pulse) and SPL (sampling start) signals. It seem that every horizontal scan begins with a LP high pulse for 1 CK. Then horizontal back porch timing applies for unknown number of cycles (i haven't seen the number in the datasheet) and just 1 CK before image data starts to flow, SPL signal pules high. So the basic thought was to use VSYNC signal (need thorough checking the manual of STM32F429 if it is really possible to do). Using the VSYNC as folows: On rising edge generate pulse on LP, on falling edge generate pulse on SPL. (so there is naturally 1 CK delay between VSYNC low and image data comming. - need checking the LTDC peripheral! haven't checked that yet).
I am completely fine using some PLD, I appreaciate the opportunity to have a small HDL exercise with this. But what I am not fine is that the smallest PLD I found (and know how to use out-of-the-shelf) is Altera EPM3064 in TQFP44 package. That is still big beast! only 44 legs and it is still damn big. (0.8 lead pitch). PLDs in smaller packages seem to be un-obtainium. At least from Altera.