tcsoftware - 2:36 pm on Jan 9, 2012 (gmt 0)

It's been my observation that these 'panda runs' are actually adjustments to the parameters of the algorithm, reindex of content or very minor modifications.
In my experience the Panda Algorithm indexes content shortly after the older algorithms in Google have done their job and applies its results there after.
So I believe it's already a dynamic part of the algorithm that runs inline with the rest of Google's indexing.