Today, with Mexicans who are in the US illegally, and who are living in Arizona and have been informed that they've overstayed their welcome, I'm sure it will be celebrated in fever pitch. Think about it. Once they return home, nobody will be celebrating with them.
However, don't let me be a wet blanket. Schools across the Border States will be celebrating a holiday almost none of them understand by hoisting pinadas, singing mariachi songs and wearing colorful Mexican clothing. As a huge fan of Mexican cuisine, I can't deny that spicy tamales, mouth watering enchiladas and the other "Mexican food" we eat in the US is my very favorite. Though in Mexico you are hard pressed to find any of those dishes served.
On July 4th (American Independence Day) there is precious little celebration in Mexico to reciprocate the parades and festivities here in California, for example. I don't think there will be a 4th of July parade in Tijuana or Mexico City. Why not?