They claim the forums are currently up but I accessing them is still hit and miss. When I do get through, I see a message saying the forums are being rolled back to 4:30am this morning and anything posted since then will be lost.
The game servers are NOT being rolled back. Just the forums.
There is no ETA as of this writing (10:21pm EST), but Turbine has promised that they have "all hands on deck" to get the game servers back up. For any updates, keep an eye on this LotRO page.