The latest eruption at Llaima is beginning to slow down according to Chilean state geologist, Hugo Moreno. The volcano has been erupting for most of the month, forcing limited evacuations. The eruption has (so far) produced lava flows, ash falls and some bombs thrown from the crater. However, the SERNAGEOMIN is keeping the "red alert" on Llaima.
With persistently active volcanoes like Llaima, it is not surprising that they see multiple eruptive periods during each year. In a sense, this is actually better for the people living around the volcano because the more often the volcano erupts, the smaller the eruptions tend to be (however, this is not an unbreakable rule).
I'll add a link to a youtube video I found for Llaima. I can't tell from the video which 2008 eruption this is (edit: this is the January 2008 eruption), but some of it is very impressive.
[youtube=http://www.youtube.com/watch?v=bulQxgLNUt4]
