The original plans for Shane McMahon were for him to only be involved through WrestleMania, according to the Wrestling Observer newsletter. That explains why he is still on TV despite losing to The Undertaker but they still have not given a solid storyline explanation.
Dave Meltzer reported that Shane’s return in February helped the company sell a ton of tickets for Mania and the fans reaction to him led WWE to changing course and keeping him on shows after Mania in the storyline with Stephanie McMahon.
Bret Hart told WrestleZone Radio last week that he sensed real-life tension between Shane, Stephanie and Triple H so that could be why we’ve never seen Triple H and Shane on-screen at the same time since his return. Hart noted that he never saw Shane and Triple H together backstage. I presume that Triple H will eventually get involved in the storyline and, perhaps, they will build towards an eventual Shane vs. Triple H match so it will be interesting to hear the promos they cut on each other.
A couple of wrestlers I spoke with said that they are happy to see Shane because he’s easy to talk to and they don’t have to feel like they are walking on eggshells when they’re around him.