While lurking in IRC, I just observed that some changes had been rolled out with MySQL handling in the panel, and a glitch like the one you described was found.
It was reported as "fixed" around 1600 PST, but the problem may have left your new database without permissions for your user (the regrant command wasn't being issued).
Two possible ways to fix:
1) Just "edit" the MySQL user (don't really need to change anything, just open the "Edit" dialog and re-save/re-submit)
2) Contact support to have them run a regrant on your database.
Either of those should get the user/privs sorted and put you back in business with the new database