Yes! Canada! I hope it's zany like It's Christmas in Canada. More importantly, it better have Terrance and Phillip! They haven't had a prominent role in years! The screenshot seems to suggest Ike will have a part in it too, which is also cool so long as he's not being banged by a teacher (blegh).
A Kenny episode followed immediately by a Canada episode could make this season awesome and make up for a fairly rough start. I hope they continue in this direction of returning the show to its roots. Major Boobage was a step in the right direction, and going back to the end of last season, The List was also a refreshing old school style episode.
This episode will probably be about the writer's strike, so Terrance and Phillip's involvement seems inevitable. And yes, it's about a current (or recent, anyway) event, which is something that began in Season 4, but if they do it in the Season 4 style rather than in the Season 9 or whatever style, then it should be good. If it involves Canada, then it has to be good.