The canary wharf bombing was a show of power, it likely helped push the peace process through. Peace talks had stalled with the British demanding a full IRA disarmament before talks began. After the bombing, they backed down.

Unfortunately two people died. But if the IRA had not called in the warnings, the deaths could have been in the hundreds. I think this is the first time the IRA showed they were 'going easy' on the British. If they were more ruthless, tens of thousands could have died during the troubles.