This kind of thing has happened before. It's not like this is a "freak once in a million years" occurance. Trees are VERY resilient and can withstand a lot more than we might care to give them credit for. Yep, the trees for miles and miles around the midwest are looking bad, but they are not dead. I drove down to central Arkansas over the weekend and the trees down there are just beginning to come out of it. But all of this will just mean a "bad year" for the growth of the trees and fruiting. If we don't have another late freeze next year, just watch them NEXT spring... They will more than likely make up for this spring.
The bad part of this for a lot of us is the resulting food source for many animals will be very small this year. Squirrels, deer, bear, and turkey will have a hard time this fall and winter due to the fruit and nut crop being very short. If you have a feeder and/or food plot, remember that this year.