Well said Bahrain lad and Captain Sensible. Note that none of the Embassy warnings posted above even advises to consider leaving the island, far from instructing people to depart immediately.
The British Embassy Travel Advice has not been updated since April 5, and is the usual 'be vigilant'. The American Embassy has not contacted its wardens to warn US expats of anything, and its latest warden message dated July 5 simply says "the Department has authorized the departure of family members and non-emergency employees of the U.S. Embassy in Manama, on a voluntary basis".
We talked to the Embassy last night and they are distancing themselves from the notice to depart, saying that it applies to the military only. There is concern about the effect this will have on the Free Trade Agreement between US-Bahrain, which is yet to be ratified.
Contacts in Juffair have confirmed the posting by Sirwa69 - the American forces dependants were already planned for departure. For political reasons - the US is not happy at the 'bad boy six' being released - this has been brought forward.
We will certainly not be complacent - there remains a rumour that 'something' will happen 'within 30 days' - but no need to panic. There are many places a lot less safe than here (also in Europe and US), we are staying put.