Makes more sense to me to work on your fleet... the Sophons will fall anyway, and you're only likely to weaken your own fleet even more by helping them.  Prepare carefully, then hit the Cravers with some serious firepower.  

Okay. Thanks. I will take your words of wisedom.

Patriots of the Empire! We must redouble our defenses and ensure that the prosperity we have built for ourselves shall remain!

Update: The Sophons did indeed fall, but when I launched a preemptive strike after the Cravers started trespassing into my space and put me back on cold war, it turned out that they were the unprepared ones. Their main fleets were apparently busy conquering the horatio. 

Part of me feels bad, but then I remember that the bugs really weren ever my "friends". Ever.

I don't intend to push my luck much farther. The cravers still have a massive fleet, and the war effort is taking a toll on my development elsewhere. More importantly, I want to keep my borders defensible. Fortunately, the cravers are already offering a truce. 

Yes they can be your friend in really few case and always for a very few moment. It's when you have the same enemy, or when they have a pacific or religious political party and can make peace (that happen rarely but it does). 

I would add : never refuse a truce to Cravers :D. It's a truce they use to focus their armies on the same target, so to finish the Horatio here I guess. But if you refuse, they just ask a truce for Horatio and go for you. I am not sure @100% but it's look like it's what they do almost everytime. I got simply erased because of that. I should accept the truce to improve my army as much as possible.

Now i wish you good luck :D