So I’m not sure if this made the SEO rounds (possibly I’m just too busy hiding from my Christmas shopping responsibilities), but it was news to me. Google is playing with removing the displayed URL and replacing with a breadcrumb trail type display.
It doesn’t matter if you’re logged in or not. It doesn’t just happen if you’re ranked in the top position (like sitelinks). Honestly, it seems pretty random. I haven’t figured out what triggers it, but it does seem like a useful variation of the horizontal sitelinks. Is it better than seeing the usual display URL? Maybe since keyworded URLs still aren’t completely prevalent yet on the web. Function over form?
Try it – I Googled transformers toys but it’s happening elsewhere. All the more reason to have a good site hierarchy… now it’s actually marketing for you in the search engine result pages.