Mega-tsunami coming from the Canary Islands?

A volcanic eruption has begun in the Canary Islands off of western Africa.  This is of special concern because it has the potential to lead to a mega-tsunami.  In a nutshell, the fear is this: rising magma superheats the groundwater that occupies vertical crevices throughout the volcano, thereby causing the water to expand with great force, thereby causing a large chunk (potentially hundreds of cubic kilometers) of the volcano's rim to fracture and slide off into the ocean; the resulting mega-tsunami would cross the Atlantic in about 8 hours before pummeling the Americas with a surge of water hundreds of feet high.

The likelihood of whether the current eruption will trigger a large fracture and resulting mega-tsunami is not yet known.  Hopefully nothing calamitous happens. 

Here's a 2-part documentary on the possibility of the Canary Islands causing mega-tsunamis.  If you only have time to watch half, watch part 2.






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Update: http://www.foxnews.com/world/2011/10/15/spewing-volcano-forces-spain-to-close-island-port/?test=latestnews