The school admins are wise to stand behind the teacher; it's a battle they cannot win. Eventually the teacher's "pay attention to me" gambit will cease to be novel.
Yes, this teacher's exaggerated prosthetics are over the top. On the other hand, when I grew up even subtle LGBTQs were the subject of witchhunts, lynched, vilified, humiliated, shamed, shunned, estranged by family and friends, fired without cause, arrested, and largely forced to live their lives in secret - or to marry in a heterosexual union despite having little attraction to their spouse.
Many were suicidal and a fair number succeeded in their quest to end their misery.
I'll gladly take someone wearing giant boob prosthetics over a return to what we were.