Not only is it still "going on" but it is no longer reasonable to describe it as a fad.
Sweden officially adopted LCHF as it's recommended dietary regime. It is of course possible that they got it wrong, just like many of us argue that the US got it wrong with low fat. But it seems arbitrary to dismiss as a fad or fringe a health guideline adopted by a first world country after careful study.
Can you find a better source for that claim? A Swedish scientific committee released a thorough meta-study but nothing that I found (besides on low-carb advocate sites) indicates that it's "officially adopted" as their recommended dietary regime.
Also, from the study (Google translation),
"In the long term there are no differences in the effect on weight loss between counsel on strict and moderate carbohydrate diet, low-fat diets, högproteinkost, Mediterranean diet, diet focuses on low glycemic load diet or a high proportion of monounsaturated fats."
"There is no basis for assessing whether even advice, eg, low carbohydrate diet and a Mediterranean diet is effective in preventing weight gain after weight loss."
"The evidence is also insufficient to assess the effect on mortality, morbidity or weight loss in obese individuals by studying the following foods: fruits, vegetables, whole grains, legumes, potatoes, soy products, meat and meat products."
"In the short term (six months) is advice on strict or moderate carbohydrate diet more effective for weight loss than advice on low-fat diets." (So, yes, it's better for short-term weight loss compared to old school low-fat-diets.)
From a 2010 (meta?) study by the same committee:
"There are no studies of sufficient quality to be able to assess the long-term effects in people with diabetes of more extreme low carbohydrate, high fat intake, such as so-called LCHF diet." (1)
They also didn't come to a conclusion regarding saturated fat, though it wasn't in the summary and I can't get a translation of the entire thing.
I called it a fad because it appears that the Mediterranean diet is just as effective as low-carb. Low-carb is just the diet du jour. That's fine, and it appears to have healthy benefits, but it's not the end-all be-all. The real benefit to low-carb (and Med. and högproteinkost and...) is deliberately making choices about eating and avoiding processed foods. E.g., avoid the Standard American Diet (or Standard Swedish Diet, in this case).
(1)
SBU. Cuisine in diabetes. A systematic review. Stockholm: Swedish Council on Technology Assessment in Health Care (SBU), in 2010. SBU Report No. 201. ISBN 978-91-85413-37-9.