How grave is the ISIS threat to the Philippines?

How serious is the threat to the Philippines posed by the so-called “Islamic State of Iraq and the Levant” — IS, ISIL or ISIS, by its various acronyms? (We will call them ISIS, although U.N. Secretary General Ban Ki Moon rightly labeled it “Un-Islamic Nonstate.”)

From the current flurry of news and intelligence, the ISIS danger to the Philippines is now small, but it can quickly grow, both in the country and especially in the Middle East.