@JakesDad,
Clearly the 14 year old should not be allowed to do this. Any 14 year old knows that what he did is wrong. Deal with this like you would with any discipline problem. Find appropriate punishment. When the punishment is finished, you move on. This isn't the end of the world, but what he did is clearly wrong.
You should understand the feelings of your wife. This is a violation of her rights. She has the right to be angry, but if the family is going to work, she needs to get over it. You might want to give her some time, but she needs to handle her feelings. The step-mom does need to act like an adult in the family. But personally I would be pissed if this happened to me.
If this is damaging the family, it might be a good idea to get counseling.