By now, prob most everyone still about has heard of the recent updating with the LJ TOS, which I wont rehash here.
I dont believe there will be any effect on us directly; to me, its more symbolic of Livejournal's ongoing fadeout and a major step in that direction.
The community will keep on going as usual as its been in recent times.
I've opened and bulit an archival account of my own LJ at DreamWidth and would encourge everyone else to archive their own LJ as they see fit.
I'll be archiving the dragoncon community over there as well. Since there is already a Dragoncon community under the auspices of longtime community member greenwitch over at DW, there will be a different name for the community archive and it will be strictly an archive of this community which I will reimport regularly especially around and after con.
Staying open as long as we can, but taking precautions for what I fear is the oncoming day that it cant stay open.
EDIT: Dream Width archive community name is dragoncon_lj_archive. For now since its mainly an archive, not going to worry about look and design over there for right now.