Judging by some tweets and information supplied by Juan David Duque, a 21 year old Colombian left winger.
Lets start with what started all the rumors.
According to Goal.com Duque tweeted about being in negotiations with the Timbers and that he would update everyone more this week, the article was posted on 1/23/12. For those Spanish Speakers see the direct quote below:
El adelanto en las negocaiciones lo confirmó el propio jugador:"Mis derechos deportivos pertenecen a Nacional, la negociación con el Portland Timbers de la MLS está muy adelantada y esperamos definir todo en la presente semana", dijo Duque a la prensa de su país.
This is followed up by a tweet from Duque just today, around 10 AM, that he has signed a contract.
en vivoo en una tarde soleada
If this is true the Portland Timbers acquired another left wing and word is that it most likely is a loan deal. If it was a straight signing the Timbers would most likely have to pay him as a DP. This would go against the plan Gavin Wilkinson of using the third DP on a true number 10 as mentioned in previous interviews.
Very interested if this is all turns out to be true. Portland needed a little more depth on the left side but I would have preferred it be at the fullback position.