Uh oh. Hekla is the volcano indicated by the purple pin. Eyjafjallajökull is the red pin. Katla, the really scary one, is the big white splotch just to the east of the red pin.
UPDATE: It's apparently a false alarm. An Icelandic Broadcasting Service camera was pointed at Eyjafjallajökull but it was labeled Hekla. MSNBC picked up the breaking news item.
The prestigious BBC web site shows Eyjafjallajökull some 75 miles west of your (correct) placement.
Actually, the one they are worried about is Katla. It almost always follows eruptions by the smaller volcano. Checked on volcanic eruption list in The Encyclopedia of Volcanos. Found that among others, Katla had major (VEI-4) eruptions in 1311, 1416, 1625, 1721, and 1918. It also had significant eruptions (VEI-3) in 1612, 1823. It seems as if 2010 could easily be time for another one, or a few years hence. I read one article at Google page Iceland Volcano Eruptions Katla, that said when it goes off under the glacier it has produced floods as great as the Mississippi River. Also speaking of the Mississippi, post Icelandic volcano weather has included freezing of that river at New Orleans!!
Just in case Katla does follow through on it’s pattern of erupting after the current volcano, here is a good link to post at that time. It gives info on all of Katla’s eruptions for the past 8,000 years, how long the more recent ones lasted (usually less than a month), and the volume of tephra (ash) and sometimes lava, and the VEI (volcanic explosivity index).
http://www.volcano.si.edu/world/volcano.cfm?vnum=1702-03=&volpage=erupt