If you want the official story, here goes:
Alexander got bored, a little tired of Bachelor hogging the spotlight and found a much better offer courtesy of The 'Great White Way.'
Aside from being an historian and a freelance journalist, Paul Alexander is also a very successful playwright. One of the off-Broadway plays he wrote hit a nerve, became successful and he decided to ditch his longtime co-host.
Does that clarify things a little?
Sorry, no idea what you're talking about with the gun, Elaines, WASP, etc.