My assessment;
The protesting against Mabarak and the regime was a human rights issue undertaken by the youth of Egypt, acting under the assumption of free and peaceful people.
What must now occur is the Supreme Council must be seen to abide by those demands, and are beholden to do so in a manner that does not threaten or jeopardise the peace treaty.
However, should in the course of those demands being met-including any relevant changes within the structure of the governance of Egypt, whether civil or military-the peace treaty is breached in a way that Israel considers to be an immediate and on-going threat to their national security, Israel then has remedy to take whatever steps it deems necessary to ensure the integrity of the Israel-Egypt Peace Treaty, up to and including military action with the full backing of the US under the Memorandum of Agreement between the Governments of the United States of America and the State of Israel.