It's been pretty wild reading about this story. Even more wild to see the photos.
They've now confirmed that the spiraling light is indeed a failed Russian rocket.
The theories were even more imaginative though. Everything from a UFO to Santa! My favorite was that Obama's visit to Norway ripped a hole in the time/space continuum!
If you haven't seen the whole story or want to check out the photos, CNN's article is here: http://www.cnn.com/2009/WORLD/europe/12/10/norway.ufo.light/index.html