My opinion: Badly handled by both cyclist and cop #1. Cop #2, whilst sticking up for his mate, remained calm and didn't trade insults.
Now, I freely admit to trying to teach people the law at times, losing my temper at dangerous or selfish incidents and, sometimes, swearing, but this guy lost the plot way too easily and didn't do his case any good.
Sure, cop #1 does say "bus" but he did initially say "truck" and he got a bit mixed up: "truck" + "bus lane" = "
bus". He just got a bit tongue-twisted. However, he was clearly trying to use the presence of a truck to accuse the cyclist of endangering himself, which he equally clearly didn't.
If I had wanted to make a stand on the issue on the spot, I would have got their attention, maybe with a tap on the window whilst stationary if I really couldn't do it just by talking (which should have been easy enough) and ask if I could speak to them round the corner. Shouting "All of you" etc made him sound like he was trying to be a macho cop himself and it sounds a bit silly on video to be honest.
The other thing he ought to have done is ask to speak to the driver as he was clearly the more controlled speaker and that could have diffused the situation. As for riding away from the cops when asked to come over, that was dumb - you challenged them, you can't then run away when they challenge you back. They may have been doing something wrong but they were definitely within their rights to take details by that stage. Bad as the cop was handling it, I doubt there was going to be a charge levelled at the cyclist, just a talking to (deserved or not), and yet he swore more than once. Not smart.
In summary, yes, there was a valid thing to complain about: eight vehicles in the bus lane whilst it's use was restricted (cops didn't deny that so I must assume that was the case).
But no, it wasn't handled well by the cyclist and gave the cop the opportunity to handle it as badly himself.
Finally, styling yourself as "Raging Bike" may have sounded funny when he set up the account, but immediately creates a bad image - one which the police will probably become aware of if the guy keeps this up. I don't have a problem with publishing videos of bad driving and so on, it's the way they are presented which can become a problem, and I think he's done cycle video usage no favours.