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Just 24 hours later (I checked yesterday) and it has gone way back down the rankings again...which does not really make sense I must admit.
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This isn't suprising, and not an actual problem.
As I think I mentioned in my previous post, Google has many different data centers. When you do a search, you are directed to a data center in accordance to a number of factors, such as how close it is to you, how busy they are etc. This means that when you search you don't hit the same data center everytime.
Whats happening is that the data hasn't synchronised between all the data centers yet, which can take a while. As a result, you'll see different results depending on which data center you hit, which is why you are seeing both high and low rankings.
It does look like you have seen a glimpse of your final position, and your site has moved up in google.co.uk. You just need to wait now until this is replicated through all the different data centers, and then the position should remain fairly stable.
Theres no set time on how long it takes for the data to propagate round the different data centers, as it depends on many different things, but given a week or two you should be seeing a stable result with good rankings for both .co.uk and .com.