Could we be witnessing the rebirth of GLaDOS? That would seem to be what's happening, as a mysterious Portal update has brought with it a sudden surplus of cryptic morse code messages.
Portal received the update earlier today via Steam. Valve's only comment in the patch notes was that the update "changed radio transmission frequency to comply with federal and state spectrum management regulations."
As it happens, it also added a new achievement titled "Transmission Received." According to Shacknews, that achievement can be unlocked by placing the radio on the red button in the first stage. At that point, it will begin spitting out morse code.
Some possible translations of that code include "interior transmission active," "the quick brown fox jumps over the lazy dog," "password back up active" and "beep beep beep beep lol." Something definitely seems to be happening here.
At a guess, Valve is teasing Portal 2, but everything is pure speculation at this point. For now, why not try accessing the code yourself?