It appears that a probable solution has been found in the ECC2-109 project. "Probable" here means that Certicom has not confirmed the solution yet but I have little doubt that they will. Since I'll have to switch over to another distributed computing project soon, it can't hurt to start looking at the list here.
MD5CRK is a project to find two inputs that produce the same MD5 digest and therefore show that MD5 is insecure. It sounds pretty interesting but what's disconcerting is they engage in the dubious practice of taking some of your CPU cycles for the project using their "MagicButton" Java applet when you visit their website. In the download section of the website, they say that they do not condone the unauthorized use of the software on any computer system. On the other hand, they have no problem snatching some CPU time without authorization through a Java applet that's activated by default. Consistency, please? It's a pretty new project though so I'll keep an eye on it and maybe join in later.