So basically, the devs have released a soft fork to freeze that one contract and keep it from withdrawing the funds after the 27 days elapse. They are also considering a hardfork to reverse that one single transaction
The question to me is why would someone invest serious money into DAO when the devs can revert it whenever they want.
I don't know much DAO/ETH implementation details so I might be wrong, but if something like this should be possible without 51% consensus it would be terrible.
Both the softfork (to freeze the guy's address) and the hardfork (to revert that one transaction) have to be approved by miners is my understanding. Of course, it's probably in their best interest, at least in the short term, to agree to the softfork. The hardfork is very controversial.