Yep, there's actually a movie in production about the 11:11 phenomenon, due to be released 11/11/11
I don't believe in the mystery myself, as my birthday is 11/11, 11:11am, so you'd think if there was anything to it, I'd have an inkling. However, for the hardcore believers, they can send me alms and worship me (from afar) as their deity.
However, here's a link to the trailer. I've read somewhere that in this movie, a portal is to be opened at 11:11am on 11/11/11, but I can't remember where I read that.