There has been some activity on the Pirate Bay domain (the .se) recently, but nothing to imply that a return is absolutely imminent and we can plan on it. The clock timer that we are seeing is likely to be counting the time from when the raid took place. As in the past, they may have a plan, but we have to wait to see what it is. The image being displayed on the site is believed to represent a Hydra, which in Greek mythology is a many-headed serpent. This could imply several things, one of which could be a display of power. But again, we don't know for sure exactly what they are trying to tell us.
Also noteworthy, the image currently displayed was in the source code, with the hint “sneakyhint”.
Stay tuned, and we'll update with a news story when there is something to report on aside from the display that we see on the site right now. We've been watching as there have been some signs of life, but nothing solid yet.