According to the Airsoft Safety Foundation, "SB1315 is a bill that attempts to exclude Los Angeles county from existing state law so that the county can enact it's own laws with regards to imitation firearms."
This is the actual status of SB 1315 as of April 20, 2012.
More information and what you can do to help can be found at the Airsoft Safety Foundation. And any money you can send their way would be good - lobbyists are expensive.
Other information can be found here at Dr. Airsoft's website.
Vigilance, guys. Another bill like this can happen again. In the meantime, play safely and play properly.