Today's the day of the vote. Here's an article from CNN on the matter:
Basically, Ireland's constitution states that citizens get to vote on matters affecting that constitution and they are the only country in the European Union that is this way. Therefore, the other 26 countries had legislation vote on the Lisbon Treaty for them.
I thought this was a powerful statement: "It means Ireland's 3 million voters will decide on a document representing the 490 million people in the European Union." Pretty powerful stuff when you look at it that way.
CNN believes that a "no" vote would bring chaos to the European Union. The consensus around here is that if the vote is "no", they will simply have the vote again until it is "yes". Seems that is what happened with the Nice Treaty in 2001. The vote was no so they went through it again in 2002.
We shall see what happens!