Yes, it's pretty serious. If you just follow the link, you can detect whether or not your computer is infected. If the screen is green...you're good to go. Any other color, you will need to follow the prompts.
Re: Breaking news - check to see if your internet is secure
I heard about this since last year, I believe I read it on the FBI site. I completely forgot about it until, last Friday, it was mentioned on the news. My computers will be safe because I am on vacation until the July 10, 2012 and I think Monday July 9, 2012 is the day of this occurrence. Wishing all my VA buddies all the best during this internet slow down. Let see what the out come will be on Tuesday.