Are you saying that because he's now attempting a climb? Min Speed Reversion definitely works when you're above your MCP alt, but the A/P kicks out if you can't - in a climb - maintain a min airspeed and climb rate.
I am saying that as he mentionned pitching up without adding thrust.
The 737 auto-throttle system will increase thrust to maintain its minimum speed (the books say approx 1.3 v/s) however what the book does not say is that if the MCP altitude is above current altitude that is true.However if the aircraft is below the current altitude then the thrust will close and the elevator will pitch down to minimum speed. Min Speed reversion is an MCP SPD mode.
Pitch 15 then firewall? How about max thrust initially?