The CEO of Six Apart actually has an apology up at news now. The panicked purging has stopped, but it remains to be seen if LJ will restore the wrongly-deleted journals as promised. I think it's safe to say that if you haven't been suspended yet, you're out of the woods. Judging from the comments on the past three news posts, there's a lot of people who are going to be watching LJ very closely to make sure they follow through on all their promises.

Hurrah for fandom. ^_^