I am not sure if there is or is not a mystery related to the abrupt sudden dropping in ocean level. This thread is intended to make BAUT readers aware of the issue and discussions.
Likely subsequent research and papers will straighten out the reason for the sea level changes.
There has been a significant amount of discussion concerning the drop in ocean level. The European satellite shows the drop in ocean level starting in around 2006.
The NASA satellite GRACE I believe was adjusted up 2006 to 2008. The premise was that the greater mass of the ocean increased the depth of the ocean, therefore 0.3 mm has added to the ocean level to account for greater ocean depth. As it became apparent that ocean levels were continuing to fall the GRACE data was delayed for 5 months early 2011.
At that time it was explained that greater precipitation resulted in increased water being deposited on the continents which resulted in ocean levels dropping. That seems odd, as one would think the water deposited on the continents would eventually flow to the ocean and result in a sudden increase in ocean level. Perhaps we should keep an eye on the ocean level data just for fun.
There is some evidence that the oceans are cooling however I believe the cooling of the oceans does not explain the magnitude of the drop. (Note the warming of the oceans and ice sheet and glacial melt did not also explain the magnitude of the ocean rise.)
Recent energy balance of Earth
Recently Lyman et al.  have estimated a robust global warming trend of 0.63 ± 0.28 W/m2 for Earth during 1993–2008, calculated from ocean heat content anomaly (OHC) data. This value is not representative of the recent (2003–2008) warming/cooling rate because of a “flattening” that occurred around 2001–2002. Using only 2003-2008 data, we find cooling, not warming. This result does not support the existence of a large frequently-cited positive computed radiative imbalance (see, for example, Trenberth and Fasullo )
http://www.spiegel.de/wissenschaft/n...782324,00.htmlHamburg - The sea level is falling behind in global average over the past twelve months by more than half a centimeter. Never before since satellite measurements 18 years ago the water level has dropped so significantly. The show global data from the University of Colorado in the United States . Were the cause of climate phenomena El Niño and La Niña, says Josh Willis of NASA researchers.
Huge amounts of water evaporate
The new data, fueling the debate on how developed the rise of the oceans: Until 1993, the sea swelled by an average of 1.7 millimeters per year on - were based on data up to that tide gauges. Since 1993, however, the satellites measure ocean. They placed first be an increase of about three millimeters per year. In the past eight years, however, slowed the rise again.But especially the puzzle of "missing heat" makes for doubt : The oceans have not warmed for eight years, apparently. Experts can not explain the phenomenon, eventually would have to heat up in the wake of global warming, especially the oceans - and swell as a result. Downward fluctuations are expected, however, they were part of the normal climate cycle, Caroline Katsman and Geert Jan van from the Royal Netherlands Meteorological Oldenborgh explain institutions now in the journal "Geophysical Research Letters .
http://www.physorg.com/news/2011-08-...ad-higher.htmlUltimately, however, not the rain water remains on the continents, the researchers point out - it flowed slowly back into the sea. And would therefore be expected to reverse the trend soon, Willis says: "The increase will go to the seas." Numerous research projects are currently measure how quickly the levels rise.
Gobal Sea Level Drops 6 mm in 2010.
Envisat satellite data shows a greater fall in ocean level.