Elul is always a time for introspection and seriousness, and in the Yeshiva world, a time of actual fear for our lives. This culminates in the most feared and awesome days of all - the Yamim Nora'im - days of fear and awe.
At the same time, both Rav Fish
(p. 5) and Rav Berger
(p. 1, right column) see this Elul - the Elul of 5775 - as an extremely significant turning point in the redemption of our people from the state of exile we are currently enduring.
Rav Fish notes many reasons for Elul's significance, and he specifically sees significance in Parshat Ki Tavo based on events that occurred in modern history during or close to that Perasha.
Rav Berger notes the recent Kolot of Mashiah coming (including the recent one from Rav Chaim Kanievsky
) and the Milhamot around the world. Elul is a time for Teshuva and it's up to us to do the proper Teshuva so Mashiah can come, he says.
Shabbat Shalom and Hodesh Tov!