instand1 - 9:35 am on Jul 3, 2004 (gmt 0)

Also, are you even sure these clicks occured after you reduced your bid by 80%? Another rational explanation would be these clicks occured before you reduced your bid, but the clicks weren't reported until afterwards.

I guess this is right. By checking the log-files or the conversion-files one should be able to find out, what really happend. (In recent days my conversion tracking did show clicks many hours before they showed up in the Google AdWords statistics...)