I was bored so I ran the numbers for individual years and aggregating successive years. If p=0.05 (two sigma) is taken as a measure of significance, and projecting journey numbers on the same trend as previous years (to 515, a 5% increase) then 2011 is not significantly different to 2010, despite 2010 being lower than expected (but not significantly so.) The only significant changes are 2003-2004 and 2004-2005.
So yes, more can be done, but no, there is not a sudden widespread carnage in London. Cycling remains a reasonably safe and fun way to get about, though it can have the perception of danger about it.