Official announcement from Matt Cutts this morning...
Google Releases Penguin Update 1.1
(PS to the above... the announcement of a "data refresh" by Matt Cutts was made yesterday on twitter, and tranquilito caught it and we discussed it with no fanfare. We didn't call it an "update". The designation of "Update 1.1" is apparently not official... that came from Matt McGee on SEL... but in the interest of keeping things in sync, we're splitting off our discussion and for now using the new name.)
Continue discussion on the new thread.