This story is actively covered by Russian media too, because court hearings are happening these days.
I personally disapprove of Pussy Riot "performance".
I think that they should get something like a month or two of community service.
But they are charged with hooliganism motivated by religious hatred or hostility, and thus could end up in prison for up to 7 years!
I think it's ridiculous. And the court is clearly biased against them.
Personnel of the church is regarded as a victim of this crime. They testify that they were insulted and demand satisfaction.
Russian Orthodox Church officials also publicly demand strict punishment for the girls. Christians and non-Christians debate heatedly about trademark Christian forgiveness and its extent.

Russian writer Leonid Kaganov wrote satirical essay about the court hearings: Леонид Каганов: 2012/08/04 Стенограмма заседания Хамовнического суда.
BTW, someone has translated it to Swedish: http://www.kniivila.net/2012/jesus-i...skvadomstolen/.