I have one EMD that has recovered nearly to its pre-hit levels.
I did nothing, but I know it is naturally generating backlinks and kept some traffic for keywords that did not include the domains in the keywords.
What I think has happened is that it has gained some more backlinks not including domain keywords in the anchor text and this is leading to recovery.
I also have another couple that are showing signs of recovery but they are no where near back to original traffic levels yet.
I think this algo change is essentially self correcting if your site has a broad enough depth of content to generate backlinks that don't include the domain keywords in the anchor text.
For extremely niche sites that are only likely to generate backlink anchor that includes the domain keywords, I think broadening the content will be necessary in order to recover.
Sites that don't generate natural backlinks for themselves I think will find it very difficult to recover from a combination of this change and the penguin.