I haven't been able to find too much information on IEEE 1545, so I'm not sure if that's something LabVIEW supports. Can you tell me a little more about what you'd like to do?
Why don't you post the pdf file. I can't find anything specific to 1545 and LabVIEW but you have the ability to create files in just about any format you wish. If you don't have the time, it's probably something that you can contract out. The lack of the number of links to 1545 that Google returned seesm to indicate that it's not widely used. Are you forced to use this specific format or can you use something else for storing parametric data?
The good news is that it's a text file format so it should be fairly simple to write a program to do this. The bad news is that I can't find any reference to anyone having done it before. The latest standard to be proposed by IEEE for test results is ATML (http://grouper.ieee.org/groups/scc20/tii/). These are some XML schemas for test data exchange and though not yet adopted as far as I know, will probably be around longer and receive greater support. NI's TestStand supports ATML.