A brave attempt at a summary: 1) basic accounts are gone 2) some interests disappeared from the popular interests list for a while and then returned 3) somebody decided a one-day boycott is a good idea and some LJ-owner/PR-person/whatever expressed unhappiness over that in an interview, which in turn made LJ-users unhappy. Trust me, any further details are just going to hurt you.

And, well, considering all the screams of "But that's NOT the American way!" I've heard during this, I'd say LJ-fandom is mostly American. But it's like people are out to take this personally no matter what, which I don't get.