> What is the license for the decimal module,
> and is said license compatible
> with the BSD license that Django uses?

It is the the same license as Python itself:
http://www.python.org/psf/license/


>  Are the authors of the decimal module OK 
> with usdistributing it with Django?

You don't need my okay, but you've got it anyway.
Per the source file, the listed authors are:

# Written by Eric Price <eprice at tjhsst.edu>
#    and Facundo Batista <facundo at taniquetil.com.ar>
#    and Raymond Hettinger <python at rcn.com>
#    and Aahz <aahz at pobox.com>
#    and Tim Peters
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