You may remember the Ribbon Poles from past years' Midsummer Fire Festivals. They're still there, and you can still "dance" at them by right clicking on the pole. However, instead of the +30 fire resistance buff of previous years, you'll get a new Ribbon Dance buff that will give you an extra 10% experience bonus from killing monsters. It starts at only a 3 minute duration, but if you dance longer, the duration of the buff will gradually rise to 60 minutes. If you're under level 70, it's well worth the trouble, especially if you combine it with the new buffs from the bonfires. The bonfire buffs will help you kill mobs faster, and the Ribbon Dance buff will get you more experience for each kill.
Like I said before, I'm suddenly not sure if I should be saving up Burning Blossoms to buy new treats with my level 70s, or just using all these amazing buffs to level my alts. I may just have to set aside enough time to do both.