Has BP oil spill seabed collapsed?

Not sure how reliable this is as I can't find anything in the newspapers yet, but it looks as if the seabed at the BP oil-spill has collapsed following a series of explosions, resulting in massive escape of oil.

Found the video screen-grab above at Harmony Central where there's an interesting debate. Speed Ball Blues writes : "Update: Here's a screen grab showing the new hole in the seabed. That's not the riser end from a new angle. This was grabbed while the ROV on the riser end was panning around. The BOP is over 600 feet away, so it is not that, either."

Does this mean an entire oil reserve is being released into the sea?

The BP live webcam has gone offline.

God help this planet if it's true.

Previously: BP incompetence, criticism of BP oil spill "UnAmercian", and volcano of oil unstoppable.

More pictures of seabed collapse

Heavy advanced technical debate as to what went wrong at Drilling Ahead, oil and gas professionals. The bits I can understand are fascinating.

BP Deepwater is the second largest oil deposit in the world, Daily Kos.

Gulf of Mexico: BP have been drilling on a tectonic plate prone to volcanic activity. More here.

Disturbing pictures of the effects of the oil as it reaches land.

Casing finally worn through 300 ft below seabed with oil finding new exits. This is bad.

Deepwater Horizon Response Unified Command

Obama government still issuing environmental waivers.

NOAA Gulf Spill Restoration website.

The Deepwater Horizon Oil Spill - History & Analysis

USGS Oil Spill Response