RTFA: http://www.csiro.au/news/TelescopeNetworks.html

Last week a CSIRO telescope near Coonabarabran NSW was used simultaneously with one near Shanghai, China, and five in Europe to observe a distant galaxy called 3C273. “This is the first time we’ve been able to instantaneously connect telescopes half a world apart,” Dr Tasso Tzioumis, VLBI operations and development manager at CSIRO’s Australia Telescope National Facility said. “It’s a fantastic technical achievement, and a tribute to the ability of the network providers to work together.” Data from the telescopes was streamed around the world at a rate of 256 Mb per second – about ten times faster than the fastest broadband speeds available to Australian households – to a research centre in Europe, where it was processed with a special-purpose digital processor. The results were then transmitted to Xi’an, China, where they were watched live by experts in advanced networking at the 24th APAN (Asia-Pacific Advanced Network) Meeting.

In short: previous, very long “exposure” snapshots can be taken in real-time.