I need an algorithm that does this:
For a directed graph where nodes represent boolean values and edges represent implication (implies TRUE and implies FALSE):
If (arc exists between any node $A$ and any node $B$ such that ($A\to B$ AND $A\to !B$) OR ($!A\to B$ AND $!A\to !B$) )
then return FALSE, else return TRUE
Does such an algorithm already exist?
In such general terms, the only algorithm is exhaustion. Walk through all possible paths of your graph and check for consistency. It is possible that there is a much better way depending on your assumptions about the graph.