As announced in the "Bits from the Security Team" (LWN copy) email a couple of weeks ago, it is possible that Debian squeeze will have Long Term Support, primarily in the way of security updates.
The news have made it to Softpedia and reddit and even though it has not been announced how long it would be supported, what use cases are planned, etc., the answer I can give is that it depends solely on people contributing to it.
I'd like to add that no, the LTS announcement is not related to the use of Debian on the ISS laptops, as mentioned in reddit - at least not that we are aware of. And to avoid possible confusion from the Softpedia article, the plan is LTS for the squeeze release.
From the emails we have received in response to the announcement, I do wonder however where are the people who expressed interest and signs of engagement last time there was a discussion about providing LTS for Debian.
Perhaps it wasn't stressed enough in the email, but those who are interested in benefiting from (and therefore contributing to) long term support, please do contact the security team NOW.
After all, the clock keeps ticking and Debian squeeze is going to reach its End of Life in less than two months otherwise.