As with all buy backs, the board can approve a certain number of shares but that doesn't mean they have to exercise it, depending on the stock price on the open market. If the company thinks the price is undervalued, as it is now, I am sure they will actually buy the stocks back.
If the company is ging to put its money where its mouth is, we should see a series o 50,000 share trades. Now THAT would make the price move. I'm not holding my breath. Futher slide when the buyback does not materialize is equally likely.