The rider stopped before entering the crosswalk. It's not likely his speed was "well above" that of a pedestrian (keep in mind that runners are pedestrians).

From the perspective of the driver, the cyclist on the sidewalk/crosswalk is to be treated like a pedestrian whether or not it is legal to ride on the sidewalk/crosswalk (that somebody is doing something illegal is not an excuse for the driver not to take due care).

Where it is legal to ride on the sidewalk/crosswalk, cyclists are legally pedestrians (but they have to yield to actual pedestrians). (Note that I am making a general characterization of the law. You'd have to look at the actual applicable law.)

Anyway, I made no comment about whether the cyclist here was being sufficiently careful. It should be obvious the cyclist should take care. Pedestrians (or cyclists) have a requirement to make sure it's safe before entering a crosswalk (but drivers still have a requirement to try to avoid hitting them even if they enter when it's not safe).

It's quite possible that both parties made mistakes.

Regardless, the driver's statements about the flashing walk sign (if it wasn't red) is certainly incorrect.