The three-judge panel of the United States Court of Appeals for the District of Columbia still decided to take on the case, because that new program doesn't begin until 180 days after the date that law was enacted (June 2, 2015).
Until then, and as a result of this decision, the NSA is allowed to continue with its metadata collection program.
This court did not make its decision on Constitutional terms; instead, it ruled that the plaintiffs did not have standing to receive a preliminary injunction. The court sent the case back to Judge Leon to see if the plaintiffs could cobble up more evidence showing they are being directly targeted by the bulk collection program.
The complication there is the U.S. government has in the past refused to turn over that evidence, claiming it is secret.