Well, so far we haven't seen any activity. And we're not holding our breath either.
Earlier this week we downloaded a DDoS tool called E-Jihad30.exe from al-jinan.net (down now). Today's attack rumors circle around this tool, of which we have a description and screenshots available over here.
This tool creates a botnet using a server at jo-uf.net — a domain registered to Iraq. However, we've been monitoring this server all day and its IP address continues to point to 127.0.0.1. So at least regarding this botnet, nothing is gonna happen.