It's good to step in when you perceive bullying and harassment and I haven't seen the particular thread where you stepped in but I've read other threads of Skeptic and he says
"fLaggot" rather than "faggot", as a play on words. If you mis-read this, then maybe @adm did too.
You said that you are gloating about not caring what happened to Skeptic's rep, rather than gloating because you were party to what happened, but you should care about someone's rep dropping so excessively- as this could potentially happen to anyone. I mean, it's not like he abused his power and tried to blackmail someone like that other guy, R4ken(?) is it?
Maybe he deserves to lose 10 points: so that he might learn, in future, to count to 10 before reacting to people. Like giving him a yellow card before a red one.
Do you know of anyway to petition adm? That might be a smart way for you two to put this behind you.
P.s. Skeptic is someone I followed because he liked my poem and I found his posts entertaining. I'm fairly sure he's not a she!