The earthquake swarm that started in TFZ on 20.10.2012 continues. It has slowed down a little bit. But is still making earthquakes with the magnitude above 3.0 every few hours to days as it currently stands. This earthquake swarm at current time does not show any signs of stopping. Uncertainty level is in effect for north part of Iceland at the moment.
It is hard to know for sure what happens next in this earthquake swarm. But I am sure it is going to continue as is. But as I sad above. This earthquake swarm does not show any signs of stopping for now. This earthquake swarm does not drop the risk of a large earthquake in this area of Iceland. At least while it is ongoing. Regardless of what happens later.