At the present time the earthquake activity remains low in Iceland. This goes for both Katla volcano and other areas of Iceland. This is the regular quiet time in Iceland, as it happens sometimes. For the next days, there is a risk of frost-quakes as the ground freezes over in a cold snap.
El Hierro volcano, Canary Islands
The eruption in El Hierro volcano continues as before. New eruption vents have been opening up at random in the south part of El Hierro volcano. Earthquake activity to the north has dropped. While at the same time, the earthquake activity seems to have increased slightly to the west part of El Hierro volcano. I am not sure why that is yet.
In the tremor data. I have been seeing several explosions taking place. But they create a spikes in the tremor plot, that is different then what happens when a earthquake takes place.
The current harmonic tremor from El Hierro volcano. Explosions are the spike activity (30 November, 2011). Some of this however might be sudden increase in eruption activity. Copyright of this picture belongs to IGN (Instituto Geográfico Nacional).
Other then that. The eruption in El Hierro volcano seems to be about the same for the moment as it has been for the past almost two months now. So far it is impossible to know when this eruptions ends. But eruption in La Palma volcano lasted about one month on average. Eruptions in Lanzarote volcano have lasted about three months (last eruption was in the year 1824). Based on this. This might be a eruption that lasts for about 3 to 5 months at the longest in my opinion. But what actually happens is just something that is a wait and see matter.