vin300 said:
No. The stretched photons have lesser frequencies
Well, that too. But the effect Chronos described is a valid one, from a certain point of view.
First, to talk about this sort of thing, we have to define some sort of global reference frame. This choice is somewhat arbitrary, but a particularly nice choice is a reference frame in which the universe looks approximately homogeneous to all observers, and observers at different spots in the universe see the same average density at the same time.
One might think of this as defining this global reference frame by the cosmological constant: "now" is comprised of all observers who see the CMB at the temperature we see it today. As our universe expands, the CMB will cool, and then the global "now" will be comprised of all observers who see it at that temperature.
Now, if we define this global reference frame (which is arbitrary, but convenient), then we can talk about what a far-off object is doing right now. If we take a photon that I send off into space, for instance, we can say how much space it has traveled in a given time. In this global reference frame, the photon will always be traveling at speed c with respect to the local matter. But the universe is expanding, so its total velocity in this reference frame will be:
v = c + Hd
So we will see this photon as receding from us faster than the speed of light. It will be sort of "carried away" by the expansion.
Please bear in mind, as I said in my earlier post, that this is an artifact of the fact that we can define velocities however we choose when comparing objects that are separated by some distance. This choice is just a convenient one.