I'm currently at SBL (an annual conference for Bible scholars) and heard an interesting presentation on the doxology found in Revelation, "Who is, and who was, and who is to come" (i.e. ο ων, ο ην, και ο ερχομενος). The paper in question suggested that this particular way of translating the doxology is, in fact, mistaken given recent Greek grammatical theories concerning verbal aspect in Greek.
For those not aware of how verbal aspect and tense work in Greek, the idea is that in certain moods (e.g. participles, as we have here in Revelation) the Greek verb actually doesn't express "tense" (e.g. past, present, future, etc.) but "aspect, which is essentially a proximate/distance relationship to the speaker (i.e. rather than "past", the verb represents the action as a distant completed whole, and rather than "present", the verb represents the action as a near and ongoing process, etc.).
In the case of the doxology in Revelation, we have a present participle (i.e. ο ων, usually translated as "who is") and in imperfect participle (i.e. ο ην, usually translated, "who was"), and finally another present participle (i.e. ο ερχομενος, usually translated "who is coming"). If we translate this particular passage with verbal aspect in mind, however, the presenter suggested that the typical translation that depicts temporality (i.e. who is, who was, etc.) is actually wrong. Rather, we should take this doxology as demonstrating the immanent and transcendent nature of God, rather than something referring to God's eternality.
In short, due to Greek grammatical considerations, we should translate this passage as something like "Who is near, who is afar, and who is coming". This doxology would then be emphasizing not God's eternality, but his nearness and yet transcendence above us, and the paradoxical way in which he draws ever closer (particularly in expectation of the second coming of Christ). That wouldn't necessarily imply God isn't eternal, just that this particular doxology is talking about something else.
I thought the presentation was pretty convincing and thought provoking, and thought I'd share it here. What are your thoughts? Even if you can't read Greek and can't really follow along with the grammatical argument, how do you feel about the proposed translation?