P.Z. Myers has a point:
The aggrieved Muslims are saying, "Mock our god and we will kill you." They have the goal of suppressing images they consider blasphemous.
The cartoonists are saying, "Threaten to kill us and we will mock your god." Obviously, they'd like to stay alive, but their goal in this context is to see their work disseminated widely.
It looks to me like a few relatively obscure cartoonists are crushing the fundamentalist Muslim world.