have you seen this? Horrible

What would you do? (Cautionary note here: can't see the video but I'm 95% sure I know the video being discussed - the Country Pleasure driving accident where the horse goes down in the end.)
In my opinion it was handled fairly well considering the situation. The horses were moved in, and they tried their best to keep the loose horse to the outside. Stepping out and w"making yourself big" can divert or stop some horses - obviously not one so panicked though. They grabbed at the reins in an attempt to be able to regain control. That didn't work, and they started trying to get the other horses out to limit additional accidents, and did it in such a manner to avoid letting the loose horse out.
What else could have been done? What would you have done differently in a high-stress situation like this, OP? No humans or horses were really hurt - it all ended very well, considering. Pretty? Nope, but that's what happens in situations like that.
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Thta's really scarey. I'm glad no one got "really" hurt. It looked pretty awful. The announcer seemed to have a good head about it though.

Just checked on my laptop - yes, that's the video I was talking about.
Scary? Most definitely.

What nearly brings me to tears isn't the horses running about. It's the fear that I know was going through the poor owners' minds!

I don't see how anyone could be angry with these people. They tried all of the traditional methods to stop the horses in order to avoid injury to others.
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The only thing that I saw as stupid was the fact of how long people took to get out of their carts and either hold their horses/unhook and hold hold their horses instead of letting their butts sit in their carts in a possible position to get hit.
The one British comment I read in all caps was absolutely hilarious though. ;p
I believe that if the other drivers would've gotten off and got their horses (and stayed closer to the middle!) no more than the first horse's issue would have happened.
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There was one driver who couldn't get out and hold her horse, because she's a paraplegic. She was the one I most worried about when I first saw the video, since she didn't have the ability to get out of her buggy.

Yeah, this is very true. From what has been said since the video was filmed, there was a wasp's nest near the in gate. It is thought that the initial horse got stung several times. They tried pretty much every method they could. While it is great to say 'oh they should have also done xyz', this is not a common occurance at this type of show and was obviously very shocking for everyone involved. I'm glad that they handled it as well as they did.. I can't imagine the fear that the paraplegic woman felt, knowing she couldn't get out of her cart. All the horses were fine.

It is standard practice to have the horses go to the center and to keep the loose horse on the outside, dismount, hold the horses, etc. In a driving class obviously you get out of the cart if you can. The reason the horses weren't taken out sooner is probably because the loose horse then could have gotten out of the arena when the gate was open, and they didn't want more serious injuries from a loose horse and cart galloping through the concrete showgrounds with people who were unaware of what had happened getting injured. They got the other horses out as soon as they felt they could.

Here is the animal planet segment that explains some more..

This has been posted to death on here. I give credit to the announcer for remaining calm during the fiasco.

"What else could have been done? What would you have done differently in a high-stress situation like this, OP?"
Quoted

I agree. Quite honestly, the horse would have angered me the most. Why did he feel the need to barrel through the other horses? That's what I would have done. Grabbing the reins seems like the most logical thing to do by this point. They waved their arms in an attempt to scare the horse to the outside, like the announcer said to do.

The announcers stupidity was the fact that she was getting angry with the contestants. I was thinking the whole time "well lady, why don't YOU come down here and try and wrangle up several, hot, panicked horses?"

All in all, I think it was handled the best that it could be at the time.