It looks like the joint UK/US investigation has run out of leads and is going after the bloggers' computers in the hopes that the hacker had some communication with them. Or the police might have evidence that we won't hear about until trial. It will look the same to us either way; we weren't at the warrant request hearing. In the meantime, a few bloggers are without their computers for the foreseeable future.
There was apparently another hacking last month. This might have influenced the police to act aggressively. http://www.desmogblog.com/climategate-hackers-slither-again-...