The word circulating through the WWE at the moment is that the release of Daniel Bryan is legitimate. Apparently, all senior members were informed of the release before it was posted on wwe.com. It is also worth to note that it would be very strange to have Donna Goldsmith and Michelle Wilson working on any wrestling angle.
Bryan Danielson wrote on his twitter (which he has renamed as Bryan Danielson) that 'the winds of change are stirring'. All signs are pointing to this being the real deal.
If it turns out that this is legit, as it appears to be, then it will be interesting to find out what Bryan did to deserve this firing. It certainly seems weird that WWE would fire him after the beginning of the NXT invasion angle, in which he was the one to spit at John Cena.
All I can say is that the NXT angle appears to have been weakened substantially with the removal of Daniel Bryan, which is a real shame.
***Update*** : The release itself is believed to be due to Bryan's actions in the NXT invasion on Raw. Apparently, a senior figure complained about Bryan's actions when he was choking ring announcer Justin Roberts with his tie. The company also has policy which does not allow choking by ropes etc. to be shown on television which was introduced after the Benoit incident.
It appears therefore that Bryan has been used as a scape-goat. However, there are also reports that some wrestlers believe this is still a work. Interestingly, if this was a work, you would have to believe WWE would announce it on their main web-page as a headline, but it is filed under WWE News and therefore it would appear WWE doesn't want to draw attention to it. Some sources also say that the WWE is looking to re-hire Bryan once this incident blows over.