With the recent earthquake in Japan we are seeing similar emails regarding the Triangle of Life like we did after Haiti. Below I will provide a few sources of information that I use and trust. In short, the emergency management and response community do not support this and recommend Drop, Cover, and Hold On.
In the United States we recommend Drop, Cover, and Hold On. In an earthquake most people are not injured or killed from collapsed buildings. They are injured by falling debris. Drop, Cover, and Hold On is designed to protect your head. It basically functions like a helmet. We have very strict building codes and standards in the United States. As a result during eathquakes we do not experience a great deal of building colapse. Drop, Cover, and Hold until the shaking stops then get out.
I have attached a formal rebuttal to the claims of the Triangle of life. When you have time take a look. There is a lot of good information there.
You can also visit http://www.snopes.com/inboxer/household/triangle.asp there are great rebuttals at the bottom of the message.
http://www.earthquakecountry.info/dropcoverholdon/ This is a great source of earthquake information.
As always, if you have any questions please feel free to contact me. You can also comment on this as well.