This should answer your question (mainly your notation):
$Q = \frac{S_1}{|S_1|}\frac{S_2^*}{|S_2|} = e^{i(k_x\Delta x + k_y \Delta y)}$
This quantity is the phase in Fourier-space. Since a displacement in image space results in a linear phase in Fourier space, you end up with the phase factor here. Note that the magnitudes of $S_1$ and $S_2$ are identical - only the phase is different, if you have a translation in image space.
If you transform $Q$ back to image space by an inverse Fourier transformation, you end up with an image that is mainly zero everywhere and should have a strong peak at one position only. This peak, relative to the center pixel of your image, gives you the shifts $\Delta x$ and $\Delta y$, i. e. if your image center is at pixel (128, 128) and the peak you get is at (130, 124), then the image was shifted by $\Delta x = 2\,\textrm{px}$, and $\Delta y = -4\,\textrm{px}$.
Note that you have to transform Q back to image space. The phase distribution in Fourier space itself will be of less value to your application!