Hi LWH
My S5 is in the factory right now for exactly this reason - microblisters on various parts of the car usually at the edges of the paintwork i.e. around the rear lights/rear arches etc. I've not yet had a report from the factory as to why this has occurred and once resprayed I will be expected them to offer a new warranty on the paintwork to guard against the same happening in the future.
My local dealer also told me that they had another S5 going back to remedy the same thing so these seemingly aren't isolated cases!