They scrubbed because of faulty thermostats in one of the APUs (Auxiliary Power Unit). The APUs are used during landing to provide power to the ailerons and rudder. I think there are three of them to provide redundancy, but they do not lift off unless all of them are working. Without them the Shuttle would land like a brick.
There will be a minimum of 72 hours to check out the problem, so the earliest they will try again is Monday. It's also possible that there could be other problems that caused the failure of the thermostats, and the worst-case scenario is that they might have to pull the shuttle off the pad and take it back to the VAB.
I was watching NASA TV at work today. The crew came out of the building, got on the van, and headed to the launch pad. The word came down while the van was en route. They stopped and turned around before reaching the launch pad. I've never heard of that happening before.
As always, you can get all the information you want and then some at
NASA Spaceflight.com. The launch thread has 22 pages of comments and photos and they didn't even launch!