I've listened to experts on the sun and they have pointed out the obvious:
The sun goes through these periods many times in our life, IN OUR LIFETIME!
The worse solar radiation we will see come from the sun in this 'oh so dangerous, high spike' would not be enough to do any damage to the earth at all. It might, at the worse, screw with tele-communications for a brief period of time but guess what: we have so many redundancies in place that it is ridiculous to think we would have a communication blackout that would end the world.
This would be the same as picking up a telephone and hearing a higher then average background noise and maybe having a higher rate of dropped calls. Hell, bad service providers already do worse damage then this solar radiation spike can ever dream of doing to us.
All high tech, including satellites by the way, are far more shielded then they where 20 years ago when we where starting to mess around with electronics in this way. This shielding isn't cause of some fear of solar radiation, by the way, but a simple necessary in a world where we bombard ourselves with far more electronic waves on a daily bases. We realized we have to design things in a way to stop them from interfering with each other, with the side effect of being more resistant to surges.
If the worse does come around, and we loose say 75% of the network which in itself is insanely high a number, do you really think it will lead to the end of the world? Of course not, we already produce a world wide web that has thousands of redundant cables crossing over land as well as sea! Why... well we are breaking these wires fine enough on our own that we realized having a system where one erroneous ship could cut communication between the States and Europe was a dumb thing to happen the very first time it did.
Oh, by the way that black out between the two major continents, and all their financial institutions, was just a foot note in the news and didn't cause more then a few points of a drop in the stock market. *Gasp* really end of the world there.
Solar radiation is one of the most stupid 'end of the world on 2012' theories out there, second only to communication blackout... mixing the two does not make it a winning theory.