The Collaborative International Dictionary of English v.0.48:

Titillate \Tit"il*late\ (t[i^]t"[i^]l*l[=a]t), v. t. & i. [imp.
   & p. p. Titillated (t[i^]t"[i^]l*l[=a]`t[e^]d); p. pr. &
   vb. n. Titillating.] [L. titillatus, p. p. of titillare.]
   1. To tickle; as, to titillate the nose with a feather.
      [1913 Webster]

            The pungent grains of titillating dust. --Pope.
      [1913 Webster]

   2. To arouse an agreeable sensation in; as, to titillate
      one's imagination; to titillate one's audience; to
      titillate the senses.
      [PJC]

WordNet (r) 3.0 (2006):

titillating
    adj 1: pleasantly and superficially exciting
    2: giving sexual pleasure; sexually arousing [syn: erotic,
       titillating]
    3: exciting by touching lightly so as to cause laughter or
       twitching movements [syn: tickling, tingling,
       titillating]