Match implications -
Against Chelsea, Suarez bites, doesn't get sent off, then scores, meaning Chelsea don't get 3 points.
Against Italy (who looked comfortable even with 10 men), Suarez bites, doesn't get sent off, then shortly afterwards Uruguay score and go through, sending Italy home and putting themselves through.
Regardless of the individual action that will be taken, it's poor that with video evidence available there and then, issues are not dealt with. Would Chelsea have kept Liverpool out and held onto 3 points? Would Italy have gone through with the draw? Impossible to say for sure, but without such an influential player like Suarez on the pitch, it would have been a lot more difficult for them.
Horrible, nasty piece of work. It will be really interesting to see the level of punishment dished out.