I hope not, I've been depending on this service for a while. I have it integrated via FUSE on my prod servers.
We did have some problems of blocking on large files, which is less than ideal for a /dev/null service.
After dealing with their customer support (which has been super helpful), we are looking to move to a named pipe / FIFO.. Which will non-block and cache lolcally, with a watcher service to push it to their site.
I hate when this sort of stuff happens in the Java world, gives me the feeling of almost "manually" parsing it, the impl could be better, if take as an example other impl as Json.net for .NET
I'm just having fun! And dealing with my own PANIC in my own way.
Seriously though, think how dependent a lot of people are on Twitter. I'm not just talking about us nerds who like tweeting links about CSS hacks, or the people who like to take photos of their food.
Here in the UK train companies use it to put out information on service status. News networks use it as their primary means of connecting with the audience. Hell, I have several friends who seem to conduct their entire relationship via Twitter. It's also become the go-to method of communication for people who want to get a message to companies.
Whether or not this is overkill, that's for individuals to decide. But I'm 100% sure that Twitter has outgrown itself.