There has apparently been a fifth cut, which is definitely going to widen concern over this sequence of events to beyond the tin-foil brigade. Security expert Bruce Schneier has collected the relevant links and his readers are mulling the possibilities here.
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The Leader in Network Knowledge
Iran is NOT offline
Only problem is, Iran is not offline (as http://www.schneier.com/blog/archives/2008/02/fourth_undersea.html claims). See http://www.iran.ir/web/ . And reputable Internet gossip indicates there are actually only 4 cut, with the 5th a miscount.
However, I agree it's a bit suspicious, and I haven't heard satisfactory explanat+++NO CARRIER+++