It's not too late. Actually, now is the perfect time for him to say that. There is intense focus on both issues right now. What a great way to completely reveal the depth of hypocrisy at play here.
I believe Rush did call her a “ho” when the scandal broke and there was a bit of a dust up. But the scandal died down when people realized that if a low rent stripper/hooker aint a ho, the word has no meaning.