Ok, Did the crew inform the passengers they were shutting down an engine in flight and continuing?? My guess is that they did not, to prevent anarchy and panic.
BUT, if they didn't they were in the wrong - passengers should be kept informed.
I think the guys on here that are saying the 747 is capable of flying on three engines are wording it all wrong. Yes the 747 can fly safely on three engines BUT IT WAS DESIGNED TO FLY ON FOUR
What they should be saying is that unfortunately the aircraft lost an engine, but the experienced crew deemed it safe to continue.
To say that a 747 lost an engine is not a big deal is wrong, because lets face it most pilots fly their whole career without experiencing it!