The Penny Arcade Effect is an observable phenomenon. It happens whenever Tycho mentions MFZ on his blog/comments page. Such as here, here, or here. The last mention led to 1,374 views of my blog in one day. By way of comparison, for the seven days prior I was averaging 204 views per day. Here are a few pictures to give you an idea what that's like.
The first shot shows the views from 8am Thursday to 7am Friday.
This shot shows views from that week.
This shot is from a few days later.
This shot shows a more granular view of that week.
This shot shows, quite clearly, the three peaks from the three different mentions of MFZ on Penny Arcade.
So, looking at the screen caps, you can see the spikes from the increased viewership caused by the simple mention of Mobile Frame Zero on Penny Arcade.