Given the instability and shear, I guarantee that SOMETHING is gonna happen not too far south of you. I wouldn't be surprised to see a derecho develop later in the day.
Definitely a very intense bow echo, but I wouldn't call it a derecho yet. Let's see what kinda beast this thing turns into after sunset, when it sinks its teeth into that 70mph low level jet. That ~3000 J/kg CAPE ought to really piss it off, too! All my containers are going on the east side of my house, for sure!