" So if that b the case the ALP will have control of the upper and lower house. Sound great to me "
Sounds like an abject nightmare!
Anyway it will not happen because: 1. Jenkins isn't going anywhere, and 2. Slipper would only act until the House could vote to elect a new Speaker.
Mind you in the interim, he could bring down the Government were Abbott to move a motion of No Confidence in the government, after Speaker Slipper had ejected 2 or 3 Government members for misbehaving! Convention would require the PM to resign if she lost such a vote in the House and the G-G would probably ask Abbott to test his support on the floor of the House. I'd imagine he'd be asking for an election pronto.