After the eruption ended in El Hierro volcano it seems that minor magma dike intrusions have been taking place. This magma intrusions so far appears to be deep and not big. Given the depth and the size of the earthquakes that are currently taking place. This also suggests that new magma continues to flow into El Hierro volcano. But that flow might be at slower rate then it was early in the year 2011 before the eruption started. The largest earthquake in this swarm had the size ML2.8 with the depth of 12 km. Based on automatic data.
It is hard to know for sure what this means for future eruption events. Before the earthquake swarm today there was an small eruption somewhere in El Hierro volcano. It can be seen by the harmonic tremor levels. But this event was small, a lot smaller then earlier events. All that can be done is to wait and see what happens next in El Hierro volcano.