Yep! They can revoke your EOD badge if you have conducted yourself in manner that violates the requirements of AR 600–8-22. Which states in part:
Any Explosive Ordnance Disposal Badge may be revoked when the awardee—
a) Is convicted by court-martial for refusal to participate in explosive ordnance disposal operations.
b) Any Explosive Ordnance Disposal Badge may be revoked by a commander having authority to award the badge upon his or her determination that the awardee was guilty of gross negligence in the performance of assigned explosive ordnance disposal duties or a flagrant violation of EOD safety procedures or regulation.
c) Initiates, in his or her initial tour of explosive ordnance disposal duty, action which results in termination of his or her explosive ordnance disposal status prior to the completion of 18 consecutive months of explosive ordnance disposal duty.