The event's aftermath, shown in the Hubble photo, shows the huge clouds of matter thrown out by the event in the 18 hundreds, called a false nova because it so closely resembles a nova when it occurs. The cloud comes from the death throes of the larger of the pair and is highly unstable. So unstable in fact that it could end its life as a supernova, the brightest ever seen from Earth, in the very near future.
Eta Carinae is one of the closest stars to Earth that is likely to explode in a supernova in the relatively near future - but future is a relative term in interstellar time. The supernova could happen in a few hundred years or a few hundred millenia.
photo by NASA Goddard Photo and Video
Larger sized photos and more info at the NASA Goddard Flickr site here