It's volatile data exchanged between the clients only, but not centrally stored anywhere (contrary to all other secure chat systems out there). The FBI has probably no idea how Signal works, what is stored and what not.
Even a grand-jury subpoena has no chance to produce more data. But maybe they can force them to re-implement Signal with a government backdoor (because it's a police state after all), and that's what Open Whisper Systems is really objecting to? Or just logging the metadata? (Which btw. duckduckgo does, even if it slows down their webserver by at least 20%).
Or did they just try to mess with the FBI lawyers?