Philippe Hurbain recenty reported he has complete the hard work of Donal Sutter and Orion Pobursky and modelled the missing parts of the Technic Figure :
However, as he points out in the initial message:
Posing the figure may be quite tricky, but thanks to the advanced rotations features of LeoCAD, it's manageable.
You can download the ldr files for the two above images here [2, 3] and have a look.
It would be really interesting to get a Technic Fig generator, much like the minifig generator available in MLCad, but until that is created (in whatever form) there is another way to go about this for now: J.C. Tang has created two mpd files, one of a standard Technic fig and a second of a posing Technic fig. These files are an excellent starting point to create your own Technic figs.
Remember that you will likely not have all the necessary parts in your library. In order to get them easily, you can follow the explanations on getting part files with LDView . You can also get the parts from the LDraw Parts Tracker.