Israel is engaged in psychological warfare with the Obama administration—and it only partly concerns Iran.
With regard to Iran, Israel clearly understands that any unilateral military action it took against Iran without U.S. knowledge and support could have consequence of strategic importance for Israel and might even make an attack on Iran of limited benefit. Israel would much rather have the U.S. with it in an attack on Iran, or, even better, would be if the U.S. executed the attack entirely on its own.
But beyond Iran, of probably greater importance to the current Israeli government is avoiding the Obama administration pushing it into a choice between settlements and territorial arrangements with the Palestinians that it is unwilling to make and permanent damage to its relationship with the U.S. Hyping the Iranian nuclear program and the need for early military action is a nice bargaining counter. The U.S. certainly cannot join or lead an attack on Iran while pushing the Israeli government to the brink on settlements and concessions to the Palestinians. Or if the U.S. wants to avoid an imminent Israeli strike, it must make concessions to Israel on the Palestinian issues.