The Frenzy of the Visible

...when Neo is shot, then resurrected (triggered by a kiss from Trinity in 'real' space that reverses the Prince Charming tradition) his speed becomes a mark of his Holiness. He is driven by a speed that is so phenomenal he can catch bullets in full flight. And we become party to this holy experience within the matrix. We witness his speed through the stillness of the image. Bullets are literally frozen in time and space and we marvel at Neo who contemplates bullets that we know move so fast they should be imperceptible to the human eye. We see the world through his eyes, eyes that create a freeze-frame effect out of 'bullet-time' speed. In these last minutes of the film, Neo has mastered the frenzy of the visible and we have been granted access to this mastery.

http://archive.sensesofcinema.com/contents/00/3/matrix.html