The thing is you can't just call a double dissolution on a whim. They only have one trigger at the moment, the Clean Energy Finance Corporation abolition, can't see them convincing the GG that parliament desperately must be dissolved just to kill it off. Pyne keeps changing the education reforms enough so there isn't one there, so unless they manufacture a serious one soon, a DD is still very unlikely. Even then, unless they change the Senate voting laws they'll probably only get a whole new set of "ferals" holding the balance of power.
The other possibility is just an early election to build some sort of real mandate. The senate won't change until July 2017, but a big enough win the the House might persuade some of the senators to come back home.
Ipsos, a notoriously janky poll, puts it at 50-50 after the budget, Newspoll has gone firmly Labor and Galaxy and ReachTEL went nowhere. It may be all sweetness an light in the government camp, but not much has changed since the budget in the community. People who vote Liberal love it, Labor/green voters hate/distrust it and the middle still feel a little betrayed and wary. Might still change over the coming months but I doubt it. This isn't Howard/Costello/Minchin/Reith/Baird etc... this is the "B" team and they are being found out.
Anyway, if they did call and election, there is no way in a million/billion years the Coalition would improve it's position, they might scrape across the line against Labor's Melon head, but they would still be up the creek in the Senate for a good long while. Saying an early election might be on was probably a little facetious on my part, I suspect it's all smoke and mirrors to distract from the bullshit numbers and heroic assumptions underpinning their budget.