It's just causing the electric assist motor to act up. It's not going to cause any loss of steering, and won't be that noticable at street speeds. I believe this information should be reported, but of course, it will not be so that sheeple can panic.
Some Toyota shill I saw on TV yesterday suggested the only reason GM did this was because of the scrutiny on Toyota. I think he was implying that if the Toyota recalls weren't big news GM would have swept it under rug.