It makes no sense why the experienced pilots after stall warnings would fixate on the flight instruments showing a high pitch and low airspeed; then continue with full stick back and watch it unwind to sea level for 4 minutes. I don't buy it. It simply doesn't add up. The stall warning disabling I admit is confusing however the attitude indicator showing nose up is unmistakable.
IMHO they were not aware of the attitude/airspeed or dismissed it as being bogus. The fact that they nosed up and finally reduced thrust to idle is consistent with a perceived overspeed and nose dive attitude. I have not read any alternative hypothesis that makes sense despite interesting discussions about THS etc.