Originally Posted by Scrodzilla

There was just a thread about this started by Santaria who was having a similar problem. It's really hard to diagnose stuff like this without having the bike right in front of me but I've found that more times than not, such clicking is caused by a slightly damaged link (or several) in the chain. It could also very well be your chainring bolts. Those little suckers loosen up all the time and should be checked often, especially if there's no loctite on them.