Does the phrase(s) "The King is dead. Long Live the King" mean anything to you? 
Nick Clegg may be doing the seemingly democratic thing by trying to align with the (majority gaining)Tories, but their people might want to do a quick sweep to see how many of those votes they receieved were to keep the Conservatives out, as I know a fair few English folk who voted LibDem because they knew they were the only serious challengers to the Tories, and wanted to do anything in their power to not give Cameron's crew the vote.
Which is the superiority of the Australian system of preferential voting.
For example, let's say in any given seat the vote goes
Tory 40%, Labour 35%, Lib-Dem 25%.
In the UK the Tory candidate wins for getting the most votes. Not 50%+1 but a simple majority.
In Australia, as the lowest vote winning candidate, the Lib-Dem votes would then be distributed according to second preferences. So if the Lib-Dems prferences run half and half then the final vote becomes
Tory 52.5%, Labour 47.5%
And the Tory wins.
More interestingly however if the Lib-dem 2nd preferences are split 16% Labour, 9% Tory then the following result occurs:
Labour 51%, Tory 49%.
And the LAbour person gets in becasue they are the candidate with over 50% of the vote.
In other words, our system prevents a candidate that the majority of people do not want from winning the seat whereas in teh UK it is possible for the least preferred candidate to win if the rest of the vote is split between several otehr candidates.
SG