I agree. In this day & age where terrorism has become a global threat, giving them the recipe to create a bio weapon that they can use for blackmailing or even genocide is just incomprehensible and nothing good can come out of it.
Since when is terrorism any more of a global threat than any other point in history. 9/11 and the London Subway Bombings aside, almost all terrorist activities have and continue to be based in the regions where the terrorists call home. 9/11 and the subway bombings were, in that sense, anomalous.
And even if they weren't, bio-weaponry is not easy. Bombs and, to a lesser extend, chemical weapons are the killing tools of choice for terrorism because they are not that difficult or expensive to make. Bio-weapons require very sofisticated laboratories and equipment and large groups of highly trained people to build weapons that will actually be effective and not just kill the people trying to make them. Most terrorist organizations are guerilla organizations, with relatively little money or resources, certainly not enough to have effective bio-weapon making facilities, and cetrainly lacking enough trained members to staff such facilities.
1) Why would someone create this?
To study how such a virus would mutate and develope, and to test how likely it is that such a mutation would happen in nature without human intervention.
2) Why would they even consider releasing the recipe?
They're not releasing a recipe, they're releasing their research, which would include the steps they took to create this which could be used as a recipe by parties who had access to laboratories that can produce viruses. The reason they are doing this is so that scientists from all around the world can work on ways to combat such a strain of super flu if it every came to be naturally.
Now, to clarify to everyone, I am not saying that there isn't a potential danger. There is. And I myself am somewhat uneasy with the idea of this research being conducted and being published. I'm just trying to keep things in perspective.