TPTK flop fold

[Ulysses]

Bad fold? I was brand new to the table and didn't know these players. I checked to see what would happen, with call/fold/raise all being potential options.

Party Poker 10/20 Hold'em (6 max, 6 handed) converter (http://www.selachian.com/tools/bisonconverter/hhconverter.cgi)

Preflop: akshawnd is SB with 8/images/graemlins/spade.gif, A/images/graemlins/spade.gif.
UTG folds, MP folds, CO calls, Button calls, akshawnd completes, BB raises, CO calls, Button calls, akshawnd calls.

Flop: (8 SB) 7/images/graemlins/spade.gif, 8/images/graemlins/heart.gif, 2/images/graemlins/heart.gif <font color="blue">(4 players) </font>
akshawnd checks, BB bets, CO calls, Button raises, akshawnd folds, BB 3-bets, CO calls, Button calls.

Turn: (8.50 BB) 6/images/graemlins/spade.gif <font color="blue">(3 players) </font>
BB bets, CO calls, Button calls.

River: (11.50 BB) 9/images/graemlins/heart.gif <font color="blue">(3 players) </font>
BB bets, CO calls $14 (All-In), Button raises, BB calls.

Final Pot: 16.20 BB

Results in white below: <font color="white">
BB shows 5s 5h (straight, nine high).
CO shows 2d Ks (one pair, twos).
Button shows 4h 7h (flush, nine high).
Outcome: Button wins 16.20 BB. </font>