****UPDATE: 8 January 2015 4:36pm ET******
The Image Manager is available and working. The team is continuing to work to ensure it remains stable. Please note that there may be short intervals of service disruption for email template editors as work is completed.
****UPDATE: 8 January 2015 3:45pm ET******
The operations team is continuing to work to restore service for the Image Manager. The underlying cause appears to be the handling of load-balancing logic across multiple data stores. It has been intermittently experiencing outages throughout the afternoon, and the team is working to ensure that it becomes available and is stable. We apologize for the inconvenience and assure you that this is being treated with the highest urgency. Thank you for your understanding.
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8 January 2015 11:54am ET
We are currently investigating an issue with the Image Manager in the US and EU data centers. This is being treated with the highest priority. Updates will be posted here as they become available. Thank you for your understanding.