Re: unneeded desperation
1) Chances are probably ZERO that UTG folds - look back at the stack sizes. That is why folding is probably best since you are a big dog against both players.
2) Why push? Better to bet a normal, continuation bet. Is CO raising as a bluff? The OP does not really support this conclusion. Is CO value raising with anything that we are only a small dog to? Almost certianly not. Will a push cause CO to fold a reasonable number of better hands that he otherwise would have called with if Hero bets less? The OP may support this conclusion, but that's an awefull lot of stock placed on a pretty weak read IMHO.
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