There's an article and audio commentary giving an overview of this story here.
Some news sources are describing the inscriptions as "secret Bible codes," which is a little misleading. These inscriptions were certainly not hidden or obscured. For example, anyone with scant biblical knowledge might look at the "JN8:12" marking on the side of the Trijicon ACOG gunsight and at least suspect it to be a New Testament reference.
This issue has added fuel to the ongoing debates surrounding religious freedoms in the military, as well as concerns about the overtones of "holy war" between Christianity and Islam that haunt our current overseas campaigns.
The use of religious inscriptions to mark or "bless" material objects, from gunsights to money, certainly raises some even deeper questions than these, of course.
Then again, where is the bright line between a weapon that sports, say, a reference to 2 Corinthians 4:6 ("For God, who commanded the light to shine out of darkness, hath shined in our hearts, to give the light of the knowledge of the glory of God in the face of Jesus Christ."), and something like the Mossy Oak Brand Camouflage Bible, which says in its introduction,
Life can be much like learning to hunt. God says in 2 Timothy 2:15, "Be diligent and present yourself approed to God..." Good hunters must become skillful, prepared and diligent. The greatest "hunt" in life is seeking a relationship with the greatest huntsmaster of all, Jesus Christ [p. iii].Imprimaturs and prooftexts for all sorts of lifestyles of violence, here. Where's Stanley Hauerwas when we need him?