If you dig through Cutts' replies to various Twitter users (as Barry Schwartz has apparently done), you'll also find this tweet from him, indicating that the refresh would also be completed on that same day:
@chuckgregorich the Penguin data refresh will complete today.
So, at least you can consider the latest in the Penguin saga to be over. Considering how much this has been built up, however, we may see a lot more complaints about Penguin the next time it hits. On the other hand, releasing the EMD update, a Panda update, and a Penguin refresh all so close together could probably be described as "jarring" by some webmasters.