I have yet to find a response by anyone from Zend on this matter but it seems sites are popping up all over the place that can decode Zend Encoded scripts. Since my company is a customer of this product and rely on this product I'm quite scared as to the slowness of Zend's response.
Some of the sites listed are:
Of course, of the ones he lists, only one might be a free service. Otherwise, the prices range widly from $15 USD all the way up to $2000 USD.