Unless your plan is to do nothing. Seventy-five thousand troops loitering near the border sounds like a good way to intimidate to me.
If Israel really wanted to hit Gaza hard, they certainly wouldn't let the papers get wind of it before it started. No, I suspect they're intenitonally using the media to foreshadow any assault and get Hamas to think twice abut retaliating.
Unless Mohamed Morsi is placating the pro-Palestinian elements within his own cabinet. He might be the ruler of Egypt, but the military in particular still hold considerable sway, and appeasing them would be high on Morsi's list of priorities, because if he loses their support, there could be a coup.
That's assuming that Egypt's definition of supporting Gaza is fighting Israel on Gaza's behalf.
Israel know that they are unpopular, so they're not going to start anything that could draw their neighbours into the fight. Egypt won't provoke Israel into doing anything, because Israel isn't shelling them, so anything they do would be seen as starting a war they have no business being in.