CTAN has a new package: Ecclesiastic Latin Typesetting
This style file is for modifying the way the latin option to the babel package operates when typesetting Latin. The style is in some way "frenchizied" for what concerns punctuation spacings and footnote style, and shortcuts are available in order to set accents on all vowels, including y and the diphthongs ae and oe.
This package is located at http://tug.ctan.org/tex-archive/macros/latex/contrib/ecclesiastic . More information is at http://tug.ctan.org/pkg/ecclesiastic (if the package is new it may take a day for that information to appear). We are supported by the TeX Users Group http://www.tug.org . Please join a users group; see http://www.tug.org/usergroups.html .
ecclesiastic – Typesetting Ecclesiastic Latin
The package modifies the way the latin option to babel operates when typesetting Latin. The style is somewhat ‘frenchified’ in respect of punctuation spacings and footnote style; shortcuts are available in order to set accents on all vowels, including y and the diphthongs ae and oe.