Cole was sent back to the dressing rooms by the Rovers boss following the argument during Fridays training session and was dropped from the squad which beat Arsenal 2-0 at Ewood Park although he was in the stands watching the game.
"The way I ask my players to train is the way we play which is competitively and passionately," said Souness.
"There was an incident on Friday morning when he and I didn't see eye to eye.
"I am the manager and I felt it was fit to send him back to the dressing room after what was said.
"It will be handled next week internally and I don't see it being a major problem because these things happen up and down the country most weeks of the year."