alright ... here is the link to the Salon article:
The neocons' next war
(you need to watch an ad of some sort to read the whole thing)
Aug. 3, 2006 | The National Security Agency is providing signal intelligence to Israel to monitor whether Syria and Iran are supplying new armaments to Hezbollah as it fires hundreds of missiles into northern Israel, according to a national security official with direct knowledge of the operation. President Bush has approved the secret program.

and from Stop the ACLU:
So what? We are sharing valuable intelligence to help Israel track down and fight the terrorist organizations that are trying to destroy them. I don’t see what the big deal is. With the current crisis there I am sure that, despite paranoia from the left, Israel isn’t interested in their private phone calls to sex lines. However, AJ Strata points out how the left-wing, anti-Israel sites are lapping the news up. It is all part of an evil plan to turn this into a World War from the Rovian/Bushitler regime! U.S. Sharing NSA Data With Israel

Here's the way I see it:
So what? Iran, Syria and Hizbollah should know that their actions are being monitored. To think that they didn't know they were being watched is lunacy. What I'm worried about is the quality of intelligence being provided. I mean what if it is as good as the intelligence we used to justify our invasion of Iraq? Israel my be getting intelligence that leads them to believe that Hizbollah has nuclear weapons and are being reinforced by Syrian and Iranian troops.

As far as the call for Sydney Blumenthal to be charged for writing the story: Why? He didn't leak what intelligence was given to Israel or how it was obtained. The only thing that his revelation hurts is the chance for a cease-fire. Or at least a cease-fire backed by America.

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and here is the link to the forum post:
US giving NSA signals intelligence to Israel