Not only do I disagree with you guys, but I think to dismiss him from the team would be an egregious overreaction. He made a mistake. A very, very serious mistake, that could have had significant, lifelong ramifications, not just for him. The fact that no one was hurt by his poor judgement is fortunate, but in no way lessens the gravity of his action.
However, we're talking about a lapse in judgement by a kid. Not to lessen the significance of what he did, but we all did stupid things as a kid (some of us as fully grown adults too) that we regret. That didn't mean that we should have been fired from our job. I think there are appropriate punitive actions that should be taken to teach Chris about the true dangers of his poor judgement, but I think dismissal from the team is way too harsh for a non-repeated offense.