For the most part, I believe it comes down to a lack of "sexiness" (for lack of a beter term) when it comes to Canada in general.
None of the candidates are charisimatic; none of the issues are charismatic. In the US you have Iraq, the death of their economy, immigration, a decline of world stature etc. So, in an odd sense, Canadians have a closer connection to that political process right now than our own.
Now, is that an excuse? No, not really but when examined in the scope of a greater demographic study it could make alot of sense. The 18-35 range is the most coveted advertising and consumer range, next to tweens. Now, if they are the most coveted they've likely been bombarded with over the top marketing campaigns; or where they're essentially bought out by the highest bidder when it comes to the next good. That range is essentially babied and catered to. The political process is exactly opposite of that; there's no catering to that demographic. It would be my argument that today's 18-35 range is one of the most selfish demographics that has ever existed on the face of this earth. If it doesn't effect them in a very specific way, then they really don't care. And I think this could explain alot of why voter turn out is down.
Politics or voting is still very much seen as an "older" thing to do. In an era of what have you done for me lately, politics doesn't fill that immediate, visceral void. It does the opposite.
Now, how do you fix it? Don't really know.