I have just committed an experimental SNMP trapd plugin for RHQ. Currently it is only able to listen for V1 traps at a fixed address, but I am sure this will change
Incoming traps will be forwarded as Events into the events subsystem, so you can view them in the GUI and even define alarms on them (that trigger SNMP traps 
This posting also shows how to handle events within RHQ plugins.
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