In a deep saute pan or fry skillet combine sofrito with fish stock or clam juice on medium low heat whisking frequently until heated through. Add the clams, sea bass and shrimp. Cook for 1 minute. Add the mussels and calamari, and cook until all shellfish open. Finish with tomatoes, yellow pepper, lime juice, cilantro, and salt and pepper, to taste.
In a sauce pot set on medium, cook the bacon in the olive oil for 30 seconds. Add red and yellow peppers, onions, and garlic, and saute until soft. Add the habanero, jalapeno, and saffron, cook for 1 minute. Add the sherry and cream if desired. Reduce by 1/4, cool and puree in a blender.