I don't believe any public sector workers should receive extra pay for the Olympic period, whether they be TFL workers, emergency service workers or the Amed Forces. If you expect extra money for when you have to work extra hard, I assume you will be happy to give some back during quieter days, weeks or months of the year?
If you want performance related pay, join the private sector or start a business.
Its not extra pay for the Olympics, its pay that the government has implemented following Tom Winsor's review into police pay and conditions. It is pay which would be paid for any operation which means staying away from home whether its a riot, football world cup, political party conference or even a royal wedding. It is not performance related pay in any way.
It is also very difficult for the police federation to do anything remotely close to being militant because a) we don't have the right to strike b) the fed is a completely useless organisation which thinks a strongly worded letter of protest is enough to influence government policy.