How it will play out?
My prediction is the the court case will detail situations where human rights are violated, but fall short of saying that the entire policy breaches human rights.
Labour will say that they'll look at it again to try to improve it - but won't do anything.
Labour will lose the next election for a variety of reasons, mainly the economy. (It obviously isn't this bill which will topple them) Not yet clear who will win.
Whoever it is, the UK will withdraw from ECHR.
That will again be for a number of reasons - but Labour bringing in a bill that breaks UK children's human rights (BP may not see them as 'our children', but they are UK children) whilst allowing criminals to stay in the UK in order not to breach their right to family life won't help.