10. Katla, Iceland (12)
We start the top ten with a volcano that was likely more famous for stubbornly not erupting* rather than any dramatic event. Sure, Katla has seen an increase in seismic activity over the past 5 years (see above) and has produced a few small jokulhlaups (glacial outburst floods) likely generated by small eruptions under the Mýrdalsjökull ice cap that covers the volcano. However, much of the media attention poured on the volcano was for the perceived "doomsday" threat that the volcano supposedly posed - more "disaster hype" than real danger. Just don't look for the hype to end as 2012 rings in.
* One Eruptions reader suggested an award for the volcanoes that didn't erupt but were repeatedly brought up in the news on their potential danger if they were to erupt - a Hype of the Year Award, if you will. Candidates included the aforementioned Katla, along with Yellowstone, the Auckland Volcanic Field and Fuji.
Image: Plots of seismicity at Katla in Iceland over the last 13 years, showing the increasing in number of earthquakes at the caldera since 2006. Data and figure courtesy of the Icelandic Meteorological Office.