I am in the process of replicating my database so i can have a master slave configuration, one of the issues i have is with security i am basically generating my server/client keys and certificates using openssl i also generate my own CA key and certificate to self sign, i understand the issues with self signing certificates on a public website, but do you think this will be as a serious problem when used in replication?
It's a problem in public websites because you can't email your shiny new CA key to everybody on the Internet. So instead by convention browsers ship with a small list of CAs (Verisign and friends) and we all buy certificates from them.
In database replication, you can visit both servers and install your new CA key. As long as you trust you, and you don't want strangers to authenticate to your database, you're probably in the clear.