A quick first response: Im not much surprised by this snapshot of student opinion, both with respect to its general orientation and with respect to its slight move over time in a direction not heartening to Republicans. While student opinion and political behavior might make a difference on the margins in the upcoming elections (more in 2008 than in 2006--and you have to bear in mind that this survey is next to useless in offering any insight into an election more than two years away), the undergraduate years are typically a high water mark for liberalism and liberal attitudes. Students for the most part dont own homes and have families, both of which tend to make them more conservative.
There is one noteworthy result, though I dont quite know what to make of it yet. 51% of the respondents agreed that stem cell research is a question of morality; 62% agreed that abortion is a question of morality; and 50% agreed that gay marriage policy is a question of morality. This of course doesnt mean that theyre taking "conservative" views of the subjects. They might be "morally" committed to a position of choice or autonomy. That 25% of the students are identified as "religious centrists," which apparently means (among other things) that they oppose gay marriage and abortion, while taking more "liberal" stances on other issues, suggests at least that a substantial portion of those who call these issues questions of morality really mean that they oppose stem cell reasearch, gay marriage, etc. How much that opposition will influence their voting behavior is another question altogether. (Many "religious centrists" are African-American and Hispanic. The social conservatism of the former group hasnt led many of them into the Republican camp, though upcoming campaigns in Ohio, Pennsylvania, and Maryland might begin to attract them.)