So far, we've heard from bastion of alt youth culture All that they will indeed be closing at 2am for the next week or so. Popular after-hours club Celia is shutting down entirely for the period, October 18 to October 25. Management at both these venues stated to SmartShanghai that they were given the impression that the closure rule would be citywide. We've also contacted MYST who have heard about the temporary restriction, and are still determining their course of action.
However, we've also talked to people at Elevator, Dada, Inferno, and Arkham, who "haven't heard anything" about the temporary restrictions.
Maybe that means they haven't been contacted yet? Maybe that means it's business as usual?
So yeah. The story is still developing. We're still asking around. At this point it's a hard maybe that clubbing business, your social life, and my KTV singing career will be curtailed at 2am for the next little while. We will update this post when we heard more.
[Updated 6.19pm]: Hearing back from the bigger clubs M2, Fusion and MYST -- seems like they will be proceeding with business as usual.