Or is this just grass "blooming" and spreading out?

Sorry, somewhat of a rookie.

Just the grass producing seed heads. It will stop in a couple of weeks.

I have the same thing happening with my fescue lawn. should the grass clippings be mulched to allow some of the seeds to germinate or should it all be bagged?

Unless your lawn is diseased or weed/poa annua is seeding, you should always mulch. See the recent post regarding nitrogen content of grass clippings.

http://forums2.gardenweb.com/forums/load/lawns/msg0513585211759.html?1

What about my case ? See above.

januwan,
Not much to go on given the depth of field. My wild guess is those are also fescue seed heads.
Many, many desireable and undesireable grasses go to seed this time of year, It is normal. If your lawn looks consistent through out during other times of the year and in spring you get fairly even coverage of seed heads, it's a good bet that what is seeding is the grass you intended to be your lawn.
I dislike the term "weed". I use it, but I dislike it. For me, weed means any undesirable plant in a lawn or garden. Fescue or rye, no mater how elite a cultivar is a weed in my KB and my KB would be a weed in your fescue lawn. Heck, even an unwanted elite KB that isn't what I planted is a weed in my Lawn, not to mention common tall fescue, dandilions, poa annua, triveialis, etc., etc., etc.

So all the pictures posted so far appear to be seed heads consistent with a mostly mono stand of turf quality grasses. Whether they are weeds is your call. Does the seed head belong to a grass that you planted or sodded and desired? :)

"spring you get fairly even coverage of seed heads"

Those heads are mainly on the edges of the lawn near driveway and walkways and some distributed sparingly.
They grow very tall. Last two years I have been pulling them manually but after doing this I noticed the grass is not as dense as before. It would suggest I am removing my good grass :)

Thank you for your comments yardtractor1