Well.... I only see 2 explanations for what happened, so bear with me. One is really bad, another one is really funny. Both are extremly conspiratorial, but looking how bizzare this situation is, I can't provide anything reasonable
1) Management chickened out. NijiFES is around the corner, everything is set up, and a person who was supposed to be there on a panel fucked up so bad that they has to be terminated. To save face and to avoid another Selen disaster, they just sweapt everything under the rag, struck some kind of deal and possibly just told her to graduate later without much fuss. This is really, really fucking bad as people may now get away with a lot of shit that would previously lead them on a choping block
2) She pulled Mito. Ok, so.... Our assumption that she is getting terminated is based on a fresh account with her PL name and a supposed collab that she supposed to have with Arial that never happened + a bunch of dubious discord screenshots. Thinking about it, there's not much sense for her to use a fresh account and there's no way to verify that it's actually her. Like even if those screenshots are real, there are no voice recording or anything to verify that it's 100% her (as far as I know). Pretty much what I'm getting is that the collab was fake, the fresh account with her PL was fake and somebody (posibly just Arial herself) was pulling sock account puppet show. That's more reasonable than you think considering Falseloved really looks extremly fucking dumb right now as he, no doubt, is as much confused as we are. The huge hole in this theory is that for it to work Aster should be on it too, unless she just throw him under the bus and used him as some kind of casuality for all this opsec operation, which is still extremly shitty if this is the case.
In any way, we can't know for sure wtf is going on untill management finally pulls the verdict and we find out whatever the fuck is going on with Aster. Nevertheless, whatever is happening is extremly confusing as it is now.