This follows some drama in the iPhone community over the past while. First, it seems like someone leaked the Dev-Team's exploit to Geohot (at least according to the Dev-Team).
Then Geohot posts on his blog suggesting that the Dev-Team release PwnageTool before someone else does (example Zibri).
The Dev-Team responds saying that Geohot has been kicked off the Dev Team in the past, some of the tools he has been using belong to them, someone leaked their 2.0 exploit to Geohot, and that Geohot is trying to provoke them into releasing PwnageTool early.
Now, it seems as though a new website has been launched at YiPhone.org with a countdown timer. To what exactly we are not sure; however, you can bet it will involve a jailbreak!
NOTE*: Use firefox to see the timer...