From reading the ATSB report, the Virgin pilots did what any other PROFESSIONAL pilot would do. If you are descending and a (TA) traffic alert is given with the traffic below, reducing rate of descent or levelling out is the obvious and safe course of action. From the report, the 737 reduced rate of descent first, which DOESN'T contravene the ATC clearance. It wasn't until the Resolution Advisory (RA) that the 737 climbed.
Time for dickie to go I think, and let professionals not amateurs run aviation.