There was a reason for concern when Marvel announced that there would be a new God of Thunder come November. In order for that to happen something would have to be happening to Thor. As for what might happen to the Son of Odin, the latest promo for Shattered Heroes and its accompanying quote might provide some details.
“Earth’s Mightiest deal with the cataclysmic aftermath of ‘Fear Itself’ and we will all mourn the devastating outcome.” – David Gabriel, SVP of Sales
Based on the picture it seems that at the very least Mjolnir will not be surviving the events of Fear Itself. Much like Captain America’s shield Mjolnir has been shattered into what is presumably an irreparable state.
Without his hammer Thor’s fate is definitely up in the air. Will the God of Thunder fall in battle or is it just his hammer that is lost. My guess is that to save Earth Thor will sacrifice Mjolnir and it will be destroyed leaving Thor powerless. Why do I think that? Mostly because Marvel probably doesn’t want to kill of one of the main characters from The Avengers which hits theaters next summer. There’s also the fact that Thor was just resurrected a few years back and it’s too soon to kill him off once more.
In a year Thor will be re-powered just in time for the movie, much like how Steve Rogers re-assumed the mantle of Captain America in time for the movie to come out this summer.
At the very least we know that the end of Fear Itself will lead to a new God of Thunder. Marvel already unveiled Tanarus as the new Thunder God in the solicitation for books in November. As to whether Thor is still alive that is to be determined. Tune in to find out.
Nerds of the Round Table 
If only fear itself wasnt such a bad story arc -_-
I think its pretty boring and just goes for shock value versus story. The only part I’ve found interesting so far is Tony trading his sobriety to craft new weapons.
I was honestly looking forward to Fear Itself initially but now I can not wait for it to be over. It had potential but the writers took to much time building things up instead of actually doing something of meaning with the story arc. Loving the site btw guys, keep up the great work.
Thanks for the kind words about the web-site.
I have to agree with you about Fear Itself. It had potential then seems to have gotten boring. I normally like Fraction’s work but just can’t seem to get into Fear Itself.