No one was harmed or really in any immediate danger, you say but the potential for disaster was there!
While it's not suggested that Cheney nor Cole woke up that morning and collaborated over breakfast to subvert company SOPs or violate FARs, or allow an aircraft to be operated in a reckless and endangering manner... but alas, according to the FAA they did.
Unless Cheney and Cole and prove otherwise, the best they can hope for is the certificate revocation is changed to certificate suspension.
With that being said, I’m sure that their ALPA attorneys will handle their case with the utmost dedication on their behalf.