Chelsea took an early lead at Stamford Bridge thanks to a chipped effort from Pedro.
But Newcastle got a well-deserved equaliser before half time through defender Ciaran Clark.
Clark met Matt Ritchie’s corner with a fine header which beat Chelsea goalkeeper Kepa Arrizabalaga low to his right.
Replays showed how Pedro would likely have cleared the header off the line if he did not move from his position on the near post.
And Cole also reckons David Luiz would not have been happy being beaten in the air by Clark like he was.
“You see him in this position here and you may think that he was switching off there coming out,” Cole said of Pedro on BT Sport.
“But he would have been told ‘if there’s an out-swinger and it’s going to be challenged at the penalty spot, get out and get up with your defenders to try and catch a Newcastle player offside’.
“He does it slightly laboured and he sort of gets caught not doing anything really.
“He doesn’t get out to catch him offside and he also doesn’t stay to clear it off the line.
“And also Luiz would have liked to be a little closer there to Clarky.”
Manchester United legend Rio Ferdinand was working alongside Cole.
And as a former defender, he would have wanted Pedro to remain on the post for the corner.
“It’s a great header from Clark, a fantastic header,” Ferdinand said.
“The determination, the commitment to get in there.
“But as a defender, I loved having someone on the post, I loved it.
“It gave that added security if the ball did come back there with a header like that.
“He would have cleared it if he just stayed on the post.”