Aaaah I see you chaps share the political class's disdain for the will of the people!
Pretty interesting result. Labour have got to be disappointed by their own result, but delighted at the huge split on the right. Lib Dems absolutely leaking support will make them a bit manic at the next election, clearly, which means they'll probably be willing to deal with basically anyone. The Tories were worried about worse losses than this, I think - this will renew attempts by backbenchers to lance the EU boil vis-a-vis a legislative "solution" to a referendum. It's all a bit wishy washy, what with parliamentary sovereignty and all that, but I guess it sends a message to the electorate that they're serious on Europe, and in light of the council elections, messages to the electorate on the EU are going to be important if the Tories want even the chance to form another coalition, let alone a majority.