Todd mentioned he wanted modding for consoles but that it would be to hard to put in, the mods messing up. what if they had a basic editor instead of modding. like forge mode in halo, they have like 20 types of buildings, NPC maker(oblivions character creation) the armors, time-line and quest makers, and items. So it wouldn't be modding it would just be subtracting and adding things in the world, but all of the individual objects would be in there so you wouldn't have to make your own, thus no messing up your xbox or playstation.
Todd never mentioned modding tools and making mods on consoles, only porting PC mods over so they could be used on consoles. And said not to look for even that until sometime
after Skyrim. So I'd say "It's not gonna happen" is a fair summary of console modding for Skyrim.