It sounds to me like neither of them were problem solving.
I have something I call my "ABC" rule for problem solving that I teach to OW students. In a nutshell the ABC is rule says to sort out problems in the following order:
1) AIR. make sure everyone has air. That could have meant in this case that the husband could have given his wife his own octopus for a moment since he evidently wasn't out of air yet, or he could have told her to put in the snorkel if the problem was that she was getting washed over by waves. In any case, the "A" would have avoided or delayed the panic and taken the edge off of the time problem.
2) Buoyancy. Step 2 is to ensure everyone has proper buoyancy. That means neutral while diving and positive on the surface. If they had been taught the ABC rule then "forgetting" to establish positive buoyancy, however they decided to achieve that, would have been much less likely
3) Step 3 is to communicate, make a plan for further steps (do we swim to the shore or call for assistance, that kind of thing). The idea after A and B is that you are no longer in danger of dying and you are back to "diving" again so step three is about how to carry on after the problem.
PADI has the "stop, breathe, think, do" principle but personally I find my "ABC" rule more goal oriented because when the poop is hitting the fan you may not have time to pause and consider the situation before doing anything and the ABC rule allows you to organize your thinking so you're doing the highest priority things first and getting everything done as efficiently as possible and in the right order.
R..