This is a big deal. "High risks" are rare, usually only a day or two each calendar year. I want to break the components for you.
A one in three chance of a tornado occurring within 25 miles of any given point within the high risk area with potential for tornadoes of F2 or greater intensity.
Damaging Thunderstorm Winds
Very high numbers here. The hatched area is where gusts of 75 mph or more are forecast. Suffice to say it is a huge area of damaging thunderstorm winds.
No tornado watches are in effect at present. However, thunderstorms are developing in many areas and they will become stronger, especially this afternoon.