It's also know as 'Bonfire Night'. Basically everyone builds a large bonfire with an effigy on top, and well... sets it on fire. Kids have competitions to make the best 'Guy'.
Also, in the days preceeding the 5th November, kids generally take their effigy around houses or sit on street corners saying 'Penny for the Guy'. I used to love that part as a kid.
I went to bonfire parties on saturday and sunday night. I expected there to be effigies of Bin Laden but was dissapointed. Everyone I talked to had the same idea though.
Now I'm all grown up (well almost), it's just an excuse to get pissed, set fire to some wood and let off fireworks.
I hope you get a national holiday for you particular version.
[ 11-05-2001: Message edited by: Dowding ]