Actually, it's still a minor risk. They took it off the risk list before they'd ever completed calculations. From what I've just read from other sources, they think it may be within the moon's orbit of earth. The major threat is not an impact, but a massive plasma discharge that would alter the earth's magnetosphere and essentially result in a whole lot of "uh oh..."
"Uh oh" being an increased likelihood of natural disasters, especially earthquakes of great magnitude as well as unusual weather before the meteor reaches the earth. The magnetosphere reaches about 65,000 km from earth.
So it is a threat, just not a threat of direct-impact.
Uh, they've been doing calculations on this from when they first observed it in October of last year through November. It was removed after it was calculated to be not a risk.
That's a problem you have when you have low numbers of calculations.. the orbit paths can get very weird. Once they got enough to specialize the path, they determined it's not close enough to warrant staying on the list.