I don't think that this is "it" but I do think it's the Muslims' "we're here and we're queer" moment. The question is whether Europe smacks this down hard or appeases them. the real wildcard is whether AQ exploits the situation. Who knows how many weapons they've smuggled into Europe. Right now, it looks like somewhat random rioting (ie. no goal) but a little organization by AQ could turn it into something more.
I wasn't joking when I wrote that we need contingency plans for France's nuclear weapons. A plan developed today might save millions when executed 20 years from now.