Just as they should have been better prepared for the marriage - its time to prepare for the divorce. Get it done. If the children continue to live like this, the cycle will repeat itself when they are old enough and decide they want to marry. Tramatic experiences play on who they are from the time the event occurs into adulthood.
When it gets to this level I believe it is time for a divorce, and automatic court appointed lawyers for the children. Counselors should be appointed for the children as well and along the way I believe a full family investigation should be done, not limited to the immediate family prior to any legal finalization.
Children get caught in the middle and emotional states of the some parents and individuals involved are not healthy enough to raise these children at these times. They are so caught up in their own emotions or fear of "loosing" the battle, they only consider the children as bargaining chips along the way. The courts don't have time for he said she said later on - so plan it (the divorce) well or the children will continue to needlessly suffer.
Remember, children are not pawns on a chess board - don't use them like they are - you only loose in the end and sadly, so do they.