The ruling by the Director of Elections has been appealed to the Supreme Court -- note that Dermot Cole has some great writing on whether the grounds for the recall might work by looking at the 1991 recall effort against Governor Wally Hickel and Lieutenant Governor Jack Coghill (The court helped run out the clock on the effort).
Also, the conservative blog Must Read Alaska, notes that nearly 20% of Alaskan Democrats signed the recall petition, making up 32% of signers (which frankly is surprisingly low). 7% of the signers were Republicans. Most of the signers were Undeclared and Nonpartisan voters (who make up about half of the voters in Alaska).
Additionally, here's my comments on Alaska Public Radio.