Well, some people like this, others don’t, but for someone who’s looking for news via fresh tweets this search type is a blessing. You can see anything that everybody’s tweeting simultaneusly, in real time. They are showing also the search term frequency in the last few hours.
Test it and see how a term just posted by you is performing. No PageRank, inbound links or on-page optimisation involved, just the words in the tweet.
Where can I find the realtime search from Google? It’s in the left menu on the “updates” (more/updates).