April 15 - Kim Il Sung's 101st birthday. That's likely when the action will happen, if anything. It's about the same time that North Korea failed to launch a missile last year (the 100th birthday), so N. Korea will want to show they're powerful.
As of now, nothing's actually happened. N. Korea has a few missiles in position to launch, but nothing else yet. S. Korea & the US bumped up their surveillance level to Watchcon 2, putting more people in position to watch & wait (meaning the North is very, very likely to do SOMETHING, though 99% likely just a show of force via a missile launch or something). In N. Korea, the army is preparing for the show of force that accompanies April 15 (massive military parades & whatnot). That's about it.
S. Korea also asked N. Korea to come to negotiations. That'll be the next step when the North is done spouting their world dominance and Godzilla-like power.
Other than that, nothing. Nothing's ever mentioned about the situation in the Korean news that I watch here, though it is reported in the newspapers from time to time.