My suspicion is that she's out there in the background.
The Clintons always operate by 'remote conrol' so they can maintain 'plausible deniability'.
Look back at how they have carefully kept their 'fingerprints' off a great many events (such as Vince Foster's demise).
They're downright good at it!
Some of their attacks on Obama have openly come directly from them, but have been sold as supposedly coming from the "right-wingers" even as the words are coming out of their mouths. In other cases, they've managed to circulate the attacks through us. In either case, I believe the pressure is going to increase on Obama to accept her on the ticket until he does. If he embraces her, all of this goes away, it will be dismissed as right-wing-nuttery. With a complicit press it will be easy.
If he doesn't embrace her, the drip-drip-drip continues until he does. Someone will pay him a visit to explain how its going to go, and he'll step up and put a smile on it. By that time he'll be desperate for an out, and she'll be there to save him.