Victory! Rock, Paper, Shotgun is reporting that Ubisoft has reversed its position on DRM for the PC version of From Dust. The need for online authentication is being stripped from the game, and when the patch is released, you'll be able to play completely offline.
Don't think this signals a change in Ubisoft's stance on games phoning home every time you load them up, though. The publisher seems to be setting From Dust free only because a forum post made by one of its staffers incorrectly indicated that the game wouldn't require online authentication. Based on the number of comments and forum posts on the subject, it looks like a lot of folks demanded refunds after it became clear they'd have to connect to Ubisoft's servers every time they loaded the game.
The DRM-free From Dust patch is expected to arrive in two weeks. According to Ubisoft, the extra time is necessary to "ensure that those who have already started the game, and who’s progress is currently saved on our servers, will receive and save their game information locally." Why a single-player-only game needs to save information on Ubisoft's servers is beyond me. I guess putting one's game saves and settings in the cloud makes it easier to justify requiring an Internet connection to play.