Michel Fodje ("Minkwe") has just come up with a very interesting new simulation model (written in Python).
It's a local realistic model of an EPR-B type experiment in continuous time. From time to time a particle arrives and gets measured. Afterwards one combines the data from two measurement stations. If both stations register an event in the same short time interval then this is called a "coincidence" and it is treated as a pair in computing correlations (CHSH etc etc).
https://github.com/minkwe/epr-clocked
There is a discussion going on about it at
http://www.sciphysicsforums.com/spfbb1/viewtopic.php?f=6&t=23
There is a connection with the so-called coincidence loophole analysed by myself and Jan-Ake Larsson some ten years ago
http://arxiv.org/pdf/quant-ph/0312035v2.pdf
This loophole is nowadays being taken very seriously by the experimentalists. Two major experiments last year: Giustina et al. and Christensen et al:
M. Giustina, A. Mech, S. Ramelow, B. Wittmann, J. Kofler, J. Beyer, A. Lita, B. Calkins, T. Gerrits, S. W. Nam, R. Ursin, and A. Zeilinger (2013). Bell violation using entangled photons without the fair-sampling assumption. Nature 497, 227-230,
B.G. Christensen, K.T. McCusker, J. Altepeter, B. Calkins, T. Gerrits, A. Lita, A. Miller, L.K. Shalm, Y. Zhang, S.W. Nam, N. Brunner, C.C.W. Lim, N. Gisin, and P.G. Kwiat (2013). Detection-loophole-free test of quantum nonlocality, and applications. arXiv:1306.5772