A thread at Webmaster World mentioned variations in Google Adwords keywords.

A user wrote, “I just noticed that Adwords is bolding not only the exact keyword I searched for, but also variations. So if I search for keyword, all the instances of keyword are bolded in ads, but also all occurrences of keywords.” Another user "split up a "Keyword widget" campaign into separate "Keyword widget", "Keyword widgets", "Key word widget", and "Key word widgets" ad groups just so I could get bolding without using dynamic keyword insertion. With this new change, I don't need to do that because "Keyword widget" in the ad text is bold even if "Key word widgets" is the search query."

Negative opinion says, "Even if your competitors didn't take the effort to use the exact keyword in the ad copy, they'll still get bolded. I don't like it. This seems to make it harder to stick out." A user sums up best as "Definitely an "expanded match" symptom. Now I'm just waiting to see the wrong cities bolded for local searches like they did with my adwords account."

The rest of the thread can be read at Webmaster World.

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