Donald Kirk in The Christian Science Monitor has written an article about how rhetoric against North Korea seems to be easing these days. The Premier of China was here these days, and while he stated that Beijing will not protect those responsible for the sinking of the Ch’ŏnan, China definitely does not want a repeat of the Korean War. For itself, South Korea also does not desire war with the North. I think, if anything, everyone would like to see the country put these tragic events behind it as soon as possible.
You can read his comments here.
As he pointed out in an earlier essay, the situation is really tricky and senseless actions on either side could very easily bring about war.