The fourth official should sit in front of a tv screen and see the same footage as we do on the telly instead of getting abuse from Wenger and Fungus. He could then easily assist the head ref in any way he sees fit. When we have the possibility to see every small thing that happens on the pitch, from several different angles, just moments after they happen - it seems stupid and incredibly rigid to not use the technology that is available.
Using this system the ref could have decided on Kompany right then and there, but with a better platform to make a correct decision. If he still deems it as a red card offense then that should be it. If he comes to the same conclusion as the FA, inexplicably, has come to - then he just awards a freekick. Same thing with dives like above, or headbutts like Fellaini on Shawcross.
As for what goes on in the penalty box on corners and free kicks - I feel it is more down to HOW refs interpret the rules. They see a lot of it but CHOOSE not to do anything. In my opinion refs are generally too lenient on grabbing, holding, pushing, screening etc in the box, but that is another discussion entirely.