The embassy has always been involved, but only with a watching brief, and the government won't get involved. There is too much money in trade to be lost over one citizen, so the Aus govt will stay away, just as all MK's "friends" across the water in AUH have done.
But he is still around Bahrain, despite the rumours of him leaving in an abaya (seriously, who actually believed he could get through passport control dressed like that?) still waiting for a court date, still waiting for the much publicised Kroll evidence to be produced...