I'm totally going to livestream the heck out of this. I hope they post a time so I can watch it from beginning to end as it happens! I'm sure if he dies they'll pull it from the internet, would they?
I've been reading the whole website closely. Sounds like he has two manual parachutes and a high-tech electronic one, so if he loses conciousness for whatever reason and can't operate the parachute himself, the electronic one will deploy, so he'll land safely.
Also I read this from this bit- http://www.redbullstratos.com/the-mission/mission-timeline/
Felix pays special attention to step off from the capsule. Due to the lack of atmosphere below, nothing will slow him down. A stable body position is key to preventing an uncontrollable spin and possible loss of consciousness.
So if he starts spinning, all sorts of nasty things will happen.
I find the whole thing fascinating. I'll be keeping my eye on the countdown timer for sure.