Here's the COE website covering this matter.
http://www.swl.usace.army.mil/planning/wrminflow.html
The most recent information can be found in the link to "Draft EIS White River Minimum Flow Reallocation Study"
Here's the Arkansas Game & Fish Commission posting.
http://www.agfc.com/fishing/resources-fishing/minimum-flow-fish.aspx
As to what impact this may have, it's difficult to predict. Mainly, I believe it will mean more frequent flooding of currently accessible areas. Shadowrock Park and Slough Hollow Road (Tin Whistles) are a couple I am familiar with. I know that Slough Hollow Road becomes impassible at about 659.5 ft. This typically happens 2-3 times a year for brief periods. The increased lake levels will likely cause flooding here more like 4-5 time a year and for longer periods of time. As for Shadowrock Park, I can foresee the park becoming virtually unusable during the spring. River Run boat ramp may be okay most of the time, just less ramp out of the water.
Many current non-maintained lake accesses may become unusable (Current turn-arounds, boat launches, etc.) The ramps at K-Dock and, for sure, Moore Bend across from K-Dock may just about disappear much of the year. At the current level of 657 ft., the ramps at Moore Bend are totally submerged.
Another almost hidden impact is on Taneycomo and Powersite dam as Taneycomo is not a COE managed lake. Power generation capacity will decrease as the water fall between Taneycomo and Bull Shoals is decreased (Taneycomo will not/can not increase lake level).
Times are a changin'.