Codec industry adoption is super slow, so I think the news today is good for anyone worried about putting eggs in the online H.264 basket.

I don't think we'll see anything out of H.265 until 2015+ The draft is only scheduled to be completed sometime in 2012 and they've already been discussing it for six years. It's a good thing that this is a ways off too, because it's going to need 2-10x the processing power required for H.264 (which is already a shitload).