Here are some directions I can see Helms heading in now. Be careful, some of these are really, REALLY lame:
1. The Hurricane
A heel version of the current character. RAW's local supervillain. This character could also work on SmackDown!. Maybe The Hurricane could appear on RAW as a supervillain, and on SmackDown! as "Sugar" Shane Helms (or vice versa)?
2. "Sugar" Shane Helms
Either by himself or with Evolution. He would basically come out with women and just appear like he thinks he's better than everyone else. I could see an interesting feud with Val Venis develope.
3. Shane Helms & Simon Dean (or Mike Bucci)
Two guys who are sick and tired of pretending they are people they are not. They've been superhereos, supervillians, boy band members and the like, but now they just want to be themselves.
4. "008" Agent Helms
I don't know why, but I can see Helms becomming a "secret agent" once he's over with the whole superhero thing.