No, HD, we wont be talking about a "Hell Nino" anytime soon (which i can only imagine would be along the lines of something such as 1982-83 or 1997-98). A weak or close to Moderate EL Nino for the coming fall and winter? most likely, yes.
The cold pool has been VERY persistent in the EPAC and equatorial thermocline closer to the surface. But that alone does not explain it. We have been seeing this quite frequently regardless of ENSO phase since 1995 --- which leads me to believe that the effects of the ATC cycles on pacific basin TC activity is Inversely proportional to the Atlantic. Or in other words these periods which bring about decadal upturns in Atlantic activity are also correlated with downturns in pacific activity.
lets use 1969 as an example here, since it had an El Nino event ongoing during the Tropical season and was in the Atlantic and pacific long-term cold phases
Atlantic activity:
Little description needed here...we all know very well what type of a season 1969 was in the Atlantic.
Pacific:
Not very impressive at all for an El Nino hurricane season in the Pacific basin. Now compare that with 1982 (Strong EL Nino year in the warm PDO phase):
WOW !! What a difference a PDO cycle makes.
lets look at 1969 SSTA info (by month --- listed below):
1969 6 24.30 1.28 27.09 0.72 28.98 0.34 28.09 0.60
1969 7 22.24 0.39 25.80 0.22 28.75 0.18 27.28 0.20
1969 8 21.01 0.19 25.50 0.55 28.86 0.41 27.33 0.63
1969 9 20.68 0.21 25.44 0.61 29.05 0.56 27.27 0.63
1969 10 21.80 0.88 25.66 0.77 29.19 0.78 27.44 0.85
1969 11 22.33 0.65 25.73 0.78 28.89 0.53 27.24 0.73
Basically warmer than average across the board INCLUDING the 1+2 region. the NINO 3.4 criteria for statistical El Nino conditions was met in 5/6 months of the season.
the QBO was also west
1969 -8.58 -4.43 -1.50 3.98 8.18 9.35 9.08 9.78 9.74 9.75 7.34 5.00
The west QBO may also have a suppressant effect on on Pacific activity so that could be playing a role here as well (Gray 1988).
the QBO is also west this year, not to mention the long term ocean cycles which are favorable for enhanced Atlantic activity. El Nino (or the slight existence of which right now) is having virtually NO effect on helping to mitigate Atlantic activity and similarly doing little to bolster the EPAC season.