That seems to be exactly what she's saying: Samsung appears to infringe on the patent(s)* but the patent(s)* may appear obvious to her and unlikely to stand up to reexamination which would make the injunction less likely.
Keep in mind she's just ruling on the injunction so it's not the final determination of infringement/invalidity. The injunction requires her to make some preliminary indication of how strong Apple's case is.
* Also it's not clear if any of that applies to the design patents.
"At the hearing on Thursday in a San Jose, California federal court, Koh also said she would deny Apple's request for an injunction based on one of Apple's so-called "utility" patents.
She did not say whether she would grant the injunction based on three other Apple "design" patents.
Koh characterized her thoughts on the utility patent as "tentative" but said she would issue a formal order "fairly promptly."