said by jack b:
I would unplug anything containing electronics, if it's not already too late.
Actually most electronics (those with switch-mode power supplies) are likely to be the least effected by this. Many of those devices will be rated for AC voltage from 90V to 250V which puts the 154V reading on the OP multimeter in the middle of the acceptable voltage range.
Electro-mechanical devices such as motors (as garys_2k
already pointed out) are at a much bigger risk if that voltage is being confirmed.
For the OP, make sure that the DMM is set to measure AC voltage in RMS (root mean square) mode and not in Peak mode:154Vpeak = 110Vrms--
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