or was someone on flight deck randomly resetting CBs trying to get things back on and working.
"randomly" resetting CBs is not part of standard operating procedure, these days pilots are usually not allowed to touch a CB unless they get permission from their maintenance department. Also attempt to "get things back on and working" is really incompatible with the flight of this aircraft. Faced with emergency they would be looking rather quickly for a land/airport and with the magnetic compass working (needs no electricity) they could steer aircraft in the right direction, specially in view of the excellent visibility in the area and their general proximity to land. So here we are - you can easily poke holes in any theory.