What is happening with the "Totally Not a Cow Level" buff?

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While playing today I got a new buff:
It is pretty clear it has something to do with the blog Debunking the cowspiracy.
But what does this event actually do?
Best Answer
Kill the cow with the loot that appears (i think) randomly. Kill it while it opens a portal to escape. Go through the portal to end up in the cow level.
After 2x a level with cows, I ended up in a sunny grassland with loads of rainbows, killing teddy bears, running flowers and unicorns... Not a lot of loot though...
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Diablo 3 Not the cow level COW LEVEL BUFF FOUND !!
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Images: Quang Nguyen Vinh, Brett Jordan, Brett Jordan, Sharath G.