One of Vatnajökull volcanoes named Kverkfjöll is starting to show again signs of activity. But few years (Week 31 2005, Week 35 2005, more data here) ago Kverkfjöll broke few decades of silence with a swarm of earthquakes. But most of them where small earthquakes and not many of them did reach ML3.0 in size.
In last week (Week 39 2010) there where few earthquakes in Kverkfjöll. But those where just few earthquakes, not a real swarm of earthquakes. Over the years there have been earthquakes (Week 7, 2003) in Kverkfjöll so this might not be so uncommon happening. But for the most part, Kverkfjöll normally don’t show much activity besides hot springs and boiled soil.
Last eruption in Kverkfjöll did happen in the year 1968 and in the year 1959 according to Global Volcanism Program.
I do not believe that Kverkfjöll are going to erupt soon. But things might get interesting in Kverkfjöll in 5 to 10 years from now. But it might take longer or shorter, the wait for Kverkfjöll however has started.