The portfolio selection team notified me that my page was chosen to be included (yay!). Not only will it be in a physical portfolio at the book fair, but it will also be included on their site. Once my image becomes available (along with the rest of the portfolio), they will send me a link to it which I'll post here.
Here was how they described what they're doing:
"A portfolio of SCBWI illustrator members work will be on display at the SCBWI Showcase during the 2012 Bologna Book Fair and available for browsing by publishers, agents and other attendees from across the world. In addition, a digital version of the portfolio will be posted on this webpage with thumbnails of artwork and contact information as we did for our 2010 Illustrators' Gallery."
The fair will run March 19-22 this year.