"What happened with Didier and the comments made after the game took the hype away from the referee a little bit," Terry told talkSPORT.
"It was a very bad performance from him [Ovrebo], we all realised that. There were three or four clear penalty decisions that we should have had that night and that's something as a fan and as a player you will never forget.
"It was disappointing. I would like the people in charge to take these things in to perspective and realise that after the game Didier came out and apologised for his actions.
"I think he realises that kids were watching and he deserves a ban. But to that extent? I really don't think so. Maybe a two-match ban."
Bosingwa was punished for calling Ovrebo "a thief" in a post-match interview, and again Terry does not believe the right-back's misdemeanour warranted such a tough penalty.
"Jose Bosingwa's ban, I don't know where that's come from," said Terry.
"Obviously every player was feeling what Bosingwa felt and thankfully nobody else said what he said. But he said what every fan and every player was thinking.
"Hopefully Chelsea can appeal and we can get that [the ban] down a little bit because we want those two players for the campaign next year."