I started to work on a bibtex plugin for WordPress, named papercite. It is based on bib2html plugin of Sergio Andreozzi.
Note that I closed the comments on this page – it was hard to track anything. Please use the bug tracker tool to report any bug or suggest enhancements on github. You can also discuss on the forum on the WordPress plugin site.
Please look at this page for up to date instructions.
You can see a demonstration of papercite in the following pages: