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@D._Generate
Obviously not a good thing, but it is unlikely that it will release nuclear contaminants.
I have a bit of experience in nuclear power as I spent six years in the US Navy working on nuclear power plants. There are a number of different designs, from the inherently unstable breeder reactors like Chernobyl to the ones that we used which would cease to create fissionable reactions in case of any problems.
I have no idea what the design of this reactor is but I would be shocked if it wasn't one that operated on a principle of a negative alpha-T which means as it gets hotter it shuts down due to less neutron attenuation. There are also ridiculously redundant systems that will drive rods down instantly to shut down the core. The concern would be if the primary coolant system were breached.
Given Japan's history of earthquake activity and their strict regulations with construction, I imagine this has been taken into account in the design. The reactor will likely never be run again, but it's doubtful it will release any contamination.
Of course, Mother Nature can be a real bitch, and we aren't able to 100% prepare for any given situation so the potential is there. However, I think it's an extremely small possibility for a nuclear catastrophe to add to the natural one.