And just read through skeptic website and saw the main graph...it still doesn't seem to me that sea levels are in the process of trending down, in fact I'm still reading a continuation of the current trend of rising sea levels (albeit at a slightly decreased rate). I expect this to be because of a combination of negative feedbacks and regular seasonal drops of sea level, variables beyond the ability for any model to accurately take into account. I suspect if you take out regular seasonal drops from the equation (which also try to anticipate El Nino/La Nina anomalies), you will find nothing really trend breaking in this graph.
Graph with seasonal conditions removed: http://sealevel.colorado.edu/files/c..._ns_global.jpg
Another possible explanation for the sea level drop: