Yes, more software from Google appears to be coming. Spotted on Greg Yardley's Yardley.ca blog is news that Google is testing (via a private beta, you'll need a login and password) a desktop AdWords editor that allows you to work offline, make bulk changes, export snapshots, and more. The apps web page (it's available to all) includes a screenshot and says:
AdWords Editor is Google's free, downloadable account management application for your computer. Now you can download your AdWords account to your computer, make your changes, then upload your revised campaigns.
Sorry Mac folks. The FAQ points out that the Google Desktop Editor is only available (if you can test it in the first place) for Windows 2000 and Windows XP (Home/Pro). However, Linux and Mac versions are being developed.
Postscript from Gary:
Here's a statement I just received from a Google spokesperson.
Google is always considering new ways to provide value to its advertisers and we frequently run limited tests of potential new products. We are currently conducting a test of the AdWords Editor with a limited number of advertisers. In the future, we plan to open this up to a broader set of advertisers.