Cole flat out states that she believes that the Templars were right in what they did. Of course he doesn't specify on what exactly she believes that the Templars were right about, but since the they were talking about the beginnings of the Mage-Templar War in Asunder we can make an educated guess.
- Vivienne: Cole... you were the Ghost of the Spire.
- Cole: Yes.
- Vivienne: Your murders stirred the Circle into a frenzy. That was what brought the attention of the templars.
- Cole: The templars hurt mages.
- Vivienne: Stupid, panicking mages who became a danger to themselves and others because of you!
- Vivienne: You brought matters in the Spire to a head. Without you, there would be no rebellion.
- Vivienne: Countless deaths are on your head, demon. Are you satisfied with the result of your protection?
- Cole: You're lying. You're... twist the words right, and it will show its true form. Blood or banishment, either will suffice.
- Cole: You like the templars. You think they were right.
Honestly, the problem is whether were talking Pre-Kirkwall Explosion mage conditions or Post-Kirkwall Explosion mage conditions. If it's the former then you can argue that perhaps the mages in less awful Circles are being babies and unpractical about their situation and Vivienne's right, but if it's the latter with Lambert's crackdown of rights that the mages have always held, then Vivienne is indeed being a hypocritical ass whose ignoring the crimes committed by the Order during Asunder.
OK, this is very cool, I'd never gotten this banter. Thanks for posting 
I do think there's some ambiguity. What does she think the Templars were right about? Cole himself is one possibility. What does the "blood or banishment, either will suffice" reference?
I read the wiki on Asunder awhile back, I think I need a refresher before I can really talk intelligently about this. Seriously though, I love knowing this banter is there.