If the "Top Kill" procedure was supposed to staunch the oil gorging out of the seabed, it doesn't appear to be working. BP's live video feed shows what appears to be a mixture of substances still erupting. If anything, it appears to have worsened. The stuff appears to be pouring out through three or four large ruptures in the apparatus. See it for yourself here. You be the judge.
There are reports that BP is now going to attempt the "junk shot" - an attempt to plug the leaks by packing the pipe with debris including rubber straps and perhaps golf balls.