Another site I work with may have recovered from the June 8 refresh. Compared to many other Panda derpressed sites I've heard about, it seemed to have only a minor Panda problem. During the June 8 Panda refresh its rankings were mostly knocked out of the top 3 but still were at position 4-7 or so.
This site showed a serious Google traffic boost on Monday, Tuesday. It's up over 200% but the traffic now has a very high bounce rate, higher than ever before in ten years!
Still, the time-on-page is over 1 minute on those high-bounce landing pages, so I'm not really concerned about the conventional bounce rate number at all. I expect a lot of that high time-on-page traffic to come back and buy.
Another good indicator - the search traffic to those landing pages that doesn't bounce has a VERY high conversion rate (over 20%). I'm still not totally comfortable calling this a Panda recovery, but it may be because both the beginning and end dates line up. If the new traffic levels are essentially sustained for a few weeks, then we'll celebrate.
Since June 8, we made some on-page changes to improve usability, added new products for the first time in several months, and sent out some email newsletters (a practice that had fallen away since April). These changes were not really made to address Panda but were mostly done as a kind of retention marketing - to encourage return business.