Here is a description of the event taken from the event page which can be found here: http://teamyu.net/Shenmue.III?action=qte :
This one-off Quick Timed Event brings a new twist to the successful #SaveShenmue campaign, seeking to make your followers sit up, take notice, and actually pledge for a game they had no interest in before. Our mission here is to educate and inspire, and with your help we can achieve both on a grand scale.
This Wednesday, please return to this page (http://teamyu.net/Shenmue.III?action=qte) at the following time in your location, for a globally synchronized launch of the #SaveShenmue QTE. You can join in at any time thereafter, but keep this in mind: the first 10 participants, plus 4 random others, will be entered into a raffle for a special prize to be announced very soon.
San Francisco = 8:00 AM
Chicago = 10:00 AM
Kingston = 10:00 AM
New York = 11:00 AM
Toronto = 11:00 AM
Rio de Janeiro = 12:00 PM (noon/midday)
Reykjavik = 3:00 PM
London = 4:00 PM
Paris = 5:00 PM
Berlin = 5:00 PM
Prague = 5:00 PM
Vienna = 5:00 PM
Rome = 5:00 PM
Cape Town = 5:00 PM
Moscow = 6:00 PM
Singapore = 11:00 PM
Perth = 11:00 PM
Tokyo = 12:00 AM (midnight/Thursday morning)
Sydney = 1:00 AM (Thursday morning)
We promise that once you get here, it will all be VERY simple and easy to follow - just a few clicks - and the outcome very effective. It will be over in seconds, but you will need to be registered here on the site for it to work, so to avoid even the slightest delay you may want to take care of that now if you haven't already.’
When I asked James from Team Yu for more details about the event he responded with the following:
The exact format of the QTE is being kept deliberately vague until that countdown reaches zero. What kind of QTE would it be if you were told in advance what to do? This is a test of your reactions under pressure. ;) Don't worry though, being new to Twitter shouldn't place you at any disadvantage, as it will all be done from that page with simple, clear instructions.
Should be fun.
Please post if you are participating.