EDIT: OH you meant the application for the computer... yeah ummm... What about somehow using hyperterminal? In the axon bluetooth tutorial on youtube you can see the data streaming through it. From there it shouldn't be that hard to get it on a graph.
Please disregard the rest as I thought the question was slightly different.
I'm apologize for my ignorance Joker, but couldn't you simply store the sensor and time data in an array, then use these (x,y) points to make a graph however you wanted? Since I'm mostly a newbie I don't know how to get data from a MCU to a computer or any other screen, but I know there is a way with or even with cables (serial, usb). Honestly, you could even get the equation for a regression line (if the data was in fact a line) on the MCU. The equations aren't extremely difficult for a computer, (for humans they take forever because you have to do a decently long equation for EVERY point).
I guess what I'm asking is... what are you really asking? You have the data, the hard part is getting the data TO something that can actually graph it. Maybe you could use a little display connected to the MCU itself?