I visited the grove around 11:15 p.m. server time, and I didn't see anything. I went there with a fellow guild member, and the two of us ended up poking around and exploring the area. There's a large lake nearby with some fishing gear, and the skeleton of what I presume to be a dwarf with a large dagger in his back. In the lake itself is a crashed plane, assumed to be gnomish in design. The only mobs/animals that inhabit the Whispering Forest are rats, bats, and Tirisfal bucks, doe and fawn, all hideously infected with the plague. The deer are all level 80-81.
What does all of this mean? What is a druidic faerie ring doing in Western Tirisfal, the supposed original landing place of the high elves -- remember, the one they left because they started going insane? Not only that, but remember that they might have gone insane because it's the supposed resting site of an Old God. Does it have something to do with the Emerald Dream? The next patch? The next expansion? Or is Blizzard just screwing with our heads?
Whatever the reason for the ring is unknown. For now, it's something fun and truly beautiful to behold, providing you have the patience to wait for it. So grab a drink, sit back, and wait; just don't go fishing in the meantime.