The dynamics of the transient light absorption induced in K8 optical glass by filamented femtosecond laser pulses have been studied using time-resolved transmitted-light microscopy at wavelengths from 450 to 700 nm. The transient absorption measured as a function of probe beam wavelength is compared to that predicted by the Drude plasma model. We conclude that, just 450 fs after a pump pulse, the transient absorption is dominated by transient electronic states, presumably, self-trapped excitons, with an excitation energy of 2.6 — 2.7 eV. These states are filled with free-carriers from a long-lived plasma, which acts as a 'carrier reservoir'. The relaxation of transient absorption has two components. The slow component, with τ1 ∼ 17-17.5 ps, is governed by the plasma thermalisation time, whereas the second, with τ1 ≫ 300 ps, is determined by the plasma lifetime.