I agree that LC did the right thing.
Let's not be mistaken here, with her job on the line, and a win or you're done NCAA tournament game on the line, you don't sit your best player/senior captain for being slow coming out of the lockerroom, or not hustling back to the huddle in practice. She did something stupid.
We don't know what, the obvious choice being drinking, but we do know it wasn't just a "simple oversight" or a "misunderstanding of the expectations" or "oversleeping for math class". She made a conscious choice to do something that was against the rules, and didn't expect to get caught.
And I've read a few times (can't remember which thread, there's been so many) that I'm sure her teammates wanted her on the court blah blah. The score indicates they didn't really care. If you're out there busting your butt and doing the right things for your team, and someone else isn't, I'm sure they're way more pissed off at SA than they are at LC. You don't get suspended unless you do something that's detrimental to the team.