While its military campaign lasted a number of weeks, it continues within the diplomatic, political and economic realms. And doing so can take either the United States or the European Union to task. It's also seems that the West can shrug it off and travel. However, Russia and Georgia exercised sufficiently diplomacy.
No, Russia and Georgia have not exercised sufficient diplomacy, because they have too quickly resulted to war without seeing if there could be a non-war solution. It seems like a waste of money and human capital, because Russia and Georgia are ethnically similar, and are fighting for land that both have legitimate interests in. They should work it out with arbitration.