Just a moment of seriousness here:
As I've said on
my own journal, there has been a major employment hiccup at LJ, and this has caused a medium-scale panic among the LJ userbase. While I want to stress that it is highly unlikely that LJ will vanish into the ether, I would also like to encourage members to download ljArchive (link at my LJ) and back up their character journals. Not only will this leave us with a backup in the unlikely event of a disaster, it also means we get to read threads offline--which I think recommends the idea most of all. (I'd also love to share archived journals with other players.) Unfortunately, I can't back up the community using this service, but I'm currently exploring other options.
Should the absolutely unthinkable happen, and LJ goes down, I have created
a mirror community on InsaneJournal--I can't transfer the posts and the comments there, but we will at least have a place to play. IJ and old-school LJ are almost identical, so the site should be relatively easy to navigate. While I don't explicitly encourage you to create new character journals on IJ, I can't see how it would hurt. Especially since even new users get 100 userpics. I had a backup on GreatestJournal, too, but their database is apparently fried.
So, long and short of it is--be aware, but don't panic. Exercise caution, back up your journal and your characters' journals, and take note of the IJ mirror, but don't freak out too badly. All's well.