Some commenters here have said Colbert was "brave" to have said the things he said during his performance last week. Of course, Colbert knew he'd suffer no consequences for his unfunny routine, so it wasn't at all brave.
This would be brave. So brave, in fact, that we'd all be praising him.
Posthumously.
As a celebrity, popularity is his biggest asset. He risked condemnation from everyone that agrees with Bush.
Actually, on further thought, with Bush’s approval in the low 30% range, he really didn’t risk too much by criticizing him.
Not exactly fearing the administration is it. Any entertainer should know that there are consequences for behavior your audience doesn’t approve of. So risking a backlash from your audience isn’t brave, it’s rather stupid.