Shas must have breathed a huge sigh of relief. They don't really want elections and now they can continue to extort money from Olmert in return for staying in the coalition. I guarantee you that at least once a week we will hear Shas threatening to leave the coalition over some issue. It is patently clear that Olmert will find a way to give Shas money and keep them in the coalition.
It is unclear how this will work out for Shas in the long run. If Olmert actually makes a deal with either the Palestinians (dividing Jerusalem) or Syria (gving back the Golan) it will be a disaster for Shas because their voters will not forgive them for allowing that to happen. On the other hand, if there is no real progress and Shas continues to extort money they will be in an excellent position for the next election.