O'Reilly is indeed a blowhard, prone to making incendiary comments. If they're not capable of dealing with him, they shouldn't invite him on the show. In my opinion, they come across as overly emotional. I think he played them, and big time, though they will certainly get publicity for this. To constrast, look up clips of Jon Stewart's segments with O'Reilly. Stewart handles him much better.
If Olbermann had been on the show, and Hasselbeck and/or Shepard walked off, this board would be crucifying them.
"It does me no injury for my neighbour to say there are 20 gods or no god. It neither picks my pocket, nor breaks my leg."
-- Thomas Jefferson