People are going to spin their wheels because they can be spun, but I have no new information about Chuck as of this writing (12:40pm PDT on Tuesday May 12) and am not going to weigh in on any wheel spinning. I am still optimistic the show will be renewed for at least 13 episodes.
If you want to spin your wheels following Twitter chit chat, have at it. But unless you see "Chuck renewed" or "Chuck canceled" twittered from a reputable source, it doesn't really mean anything.
If that's how you want to spin your wheels, go for it, but personally, I'd prefer it if you took goofy pictures of yourself, posted them on the Internet and then provided links!
It's just a preference though...