I was actually one of those on board this flight on Wednesday. The problems started about 30 seconds after take off and as has already been mentioned there were loud bangs coming from the starboard engine with flames coming out of the engine with each bang. This lasted maybe 15 seconds or so until the engine was shut down.
After around 10 minutes the crew (who had obviously been very busy) explained that we would be diverting to Fuerteventura and after circling for around 40 minutes we landed there and were given the once over by the fire engines which had been standing by.
Everyone was quite shaken but the atmosphere on the aircraft remained calm at all times (true British stiff upper lip!).
I must say that the Thomsonfly crew and then the two reps who took care of us for the 10 hours we were in Fuerteventura were exemplary and an absolute credit the company. When the going got tough Thomson's really did the business in looking after its customers and I cannot praise them enough for the customer service and reassurance they provided that day.