We came across this video yesterday of a Panda 4.0 discussion between Eric Enge and Mark Traphagen of Stone Temple Consulting with David Harry (SEO Dojo) and Bill Slawski (SEO by the Sea). It’s good stuff, check it out!
https://plus.google.com/u/0/events/c9ousfff9tqb1hmqj64hqgi55ro
Not only is there some good stuff on Panda 4.0 but also some good points on how Google updates the algorithm vs. actual penalties.