TexTex Latex plugin for Inkscape. The Latex script can be modified after being inserted (ie it isn't a one way process).

Install the plugin and the following dependencies:

TexText-0.4.4.pet (the plugin)
python-2.6-lxmlnumpy-cut-i486.pet (general for Inkscape plugins)
Python+-2.6.4-i486.pet (for pygtk)
pdf2svg-0.2.2-i486.pet (pdf2svg)

Ensure a Latex system is installed - check using latex -v and pdflatex -v

For example the texlive-2011-FULLAPP.sfs (TexLive)

Also requires library libpoppler.so.13 or later.
If not present in /usr/lib then make a link called libpoppler.so.13 to the latest libpoppler.
For example in Slacko 5.6 make a relative symlink called libpoppler.so.13 to /usr/lib/libpoppler.so.26.0.0

May require reboot after everything's installed.

Latex
Poppler - PDF rendering library

TexText project page
Puppy forum thread
Inkscape forum thread