All you really need to do to get exalted with the Lorewalkers is read each of the lore objects located throughout Pandaria; you can see a list of them (like The Seven Burdens of Shaohao) in your Exploration Achievements tab, under Pandaria. When you read all of the objects for each "story," you get an item to bring to Lorewalker Cho, who presents you with a sort of play about the story you collected, and you get a ton of reputation (thousands).
The best part? You can collect them all in an hour or less with 310 flying and a map to help you out.
Filed under: Mists of Pandaria