http://www.joblo.com/index.php?id=3191
Joel Silver assistants beware of flying cell phones today cause neither THE MATRIX RELOADED or REVOLUTIONS were nominated. The films that beat out the MATRIX for nominations were THE HULK, RETURN OF THE KING, MASTER AND COMMANDER, PETER PAN, PIRATES OF THE CARIBBEAN, TERMINATOR 3 and X2. Strangely enough, THE HULK's visual effects work was widely believed to be one of the reasons the film did so poorly as bad word of mouth on the look of The Hulk spread. THE HULK and PETER PAN were surprises but perhaps the biggest surprise was the aforementioned exclusion of REVOLUTIONS (the one film out of the two Warner Bros submitted for consideration).
This is certainly crap. The Oscar is leaning forward to pleasing audiences than actually recognizing technical achievment.

X-2? heh...