Sometimes you catch a lucky break.
However, not too long ago, JR posted an update via Twitter:
"As I understand it Christian did not break his ankle while on tour."
The injury is believed to be an ankle sprain, as noted on WrestlingInc. However, depending on the severity of the sprain, healing could take anywhere from a week of simple exercise with the injured ankle to a couple of weeks on crutches or in a specialized boot to allow the ankle ligaments to heal.
It's also reported that Christian is back in the US now.
There's a video (safe for work) of the match with Sheamus, where Christian can be seen getting injured as he slides under a clothesline from the Irishman. As he pops up, he goes to slap Sheamus into the ropes and collapses onto his back, clutching his leg in pain. It was originally feared to be his knee, probably due to the way he was holding it.
The basic recounting of the match indicates the ref checked on Christian after he fell. The official told Sheamus to wrap it up, so Sheamus nailed a Brogue Kick to get the pinfall. Afterwards, the ref threw the "X" sign, which is the ever-infamous injury signal. Afterwards, some trainers helped Christian into the back.
Christian should be ready for his five-on-five match at Survivor Series as part of "Team Barrett." However, if he is, expect him to pull light duty during the contest. There is little reason to keep him off the air in any circumstance as he could pull commentator or token managerial duties while his ankle heels.
I'm just happy the injury isn't as bad as it could have been. Christian is one hell of a wrestling talent and to lose him for any extended period of time would hurt Smackdown.