Simpler than DMX. Strait up serial stream - 1 Mbps, I think it was 1 start bit, 8 data bit, 1 stop bit, no parity. Any UART that is fast enough will do fine. A value of 170 is used to reset the channel counters, which means you cannot set a channel to a value of 170...
You will need a 485 chip to convert the TTL to a balanced output.