A few weeks ago, we reported Google was testing tags in the search results snippets. Well, I checked again this morning and Google seems to have updated the design for those tags and removed the "TAGS" reference and placed little gray non-clickable text phrases below the snippet.
Here is the original version, let's call it V1 of tags in Google snippets:
Here is V2 of tags in the Google snippets:
They are lowercase, under the main snippet, not bordered in and given a section title of "TAGS" anymore.
It seems Google is just trying to give searchers a heads up on what to find on the page, outside of the title tag, snippet and URL that is displayed here.
Forum discussion at Google+.
