The NSA's bulk data collecting has been cited as the investigation's initiating factor in 4 out of 225 terrorism-related investigations, that's 1.7%.
Is 1.7% worth it? I guess the Australian government said yes.
The thing is that they have been doing just fine with their current powers - there is no need to expand them. I have no doubt that actual terrorist plotting has been countered by ASIO, but I also have no doubt that ASIO clearly already have enough powers to do their job appropriately.