Despite the alarmist language, this op-ed in the Jerusalem Post is worth a read. It essentially argues that there is a growing split between Egypt and Saudi Arabia, the two anchors of the Status Quo Bloc.
I wouldn’t go so far as describing it as a split, but there is certainly a difference of opinion. It’s because Egypt is more afraid of the Sunni Islamist continuum (represented in Egypt by the Muslim Brotherhood) and the Saudis are more afraid of the Resistance Bloc, headed by Iran. They thus have different priorities, symbolised by the Security Council vote that is the subject of the op-ed I linked to.
It’s worth remembering that the Status Quo Bloc isn’t a traditional bloc of unified ideology, but more an accidental collection of disparate states brought together by fear of change (and given that the likeliest changes in the Middle East—hegemony by Iran or takeover by Islamists—is bad for Western interests, we should be on their side!)
UPDATE: MEMRI also writes about it.
UPDATE II: As has the Washington Institute.