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Question from someone with little bitcoin experience.

Does this require action on the part of the original bitcoin owner? Or in this case has the FBI seized all the keys/credentials required to do this themselves?

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All you need is the private key to sign a transaction.

Which is usually encrypted and requires action (password disclosure) from the owner.

Not necessarily disclosure. A court could probably demand that the owner enter his password and engage in a transaction with the FBI / with the court / some court-appointed escrow. One might argue that by transferring the money they would incriminate themselves e.g. by demonstrating that they control it, but I do not think that would matter in terms of seizing the money.

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