UPDATE #4: Added screenshots of the attack on Stormwind, as well as the victory yell from King Varian Wrynn.
UPDATE #3: Added more Orgrimmar screenshots. Screens courtesy of hardcore.
UPDATE #2: Chat between Thrall and Garrosh Hellscream added. Thanks yem!
UPDATE #1: Stormwind City screenshots added, also added links to backgrounds for all Alliance characters involved.
It appears that the next phase of the Wrath of the Lich King launch event has finally started. Reports are coming in that Orgrimmar is under attack by Abominations and Frostwyrms, and there is activity in Stormwind as well. The event is currently looping every 15 minutes or so, so it looks like there may be more to come. Stay tuned for more updates.
Stormwind Under Attack
King Varian Wrynn, Highlord Bolvar Fordragon, Broll Bearmantle, and Valeera Sanguinar are all gathered in Stormwind Harbor at a tent. They also speak some flavor text of the current situation.
King Varian Wrynn Flavor Text | King Varian Wrynn @ WoWWiki
Highlord Bolvar Fordragon Flavor Text | Highlord Bolvar Fordragon @ WoWWiki
Broll Bearmantle Flavor Text | Broll Bearmantle @ WoWWiki
Valeera Sanguinar Flavor Text | Valeera Sanguinar @ WoWWiki
Orgrimmar Under Attack
At some point during the event, you can see Thrall and Garrosh Hellscream fight in Orgrimmar arena, you can also see Saurfang running around, Sylvanas and Putress at the entrance of the arena with a map of the world in front of them. (Source - torash)