There is a rule that states the replay official can overturn calls on the field by an official, regardless if they are reviewable plays or not. Its basically a failsafe for egregious calls such as this. It was mishandled all around.
Straight from NCAA rule and case book.
http://tbfoc.org/2013_14_InstantReplay_Case_Book.pdf SECTION 3. Reviewable Plays Scoring Plays
ARTICLE 1. Reviewable plays involving a potential score include:
a. A potential touchdown or safety. [Exception: Safety by penalty for fouls that are not specifically reviewable.]
b. Field goal attempts if and only if the ball is ruled (a) below or above the crossbar or (b) inside or outside the uprights when it is lower than the top of the uprights. If the ball is higher than the top of the uprights as it crosses the end line, the play may not be reviewed.
This isn't the rule Im referring to. I understand penalties can't be reviewed. Its a different section of the rulebook. Feel free to look up Rule 12, Article 6. Although even that rule contradicts itself.
Here is your exception, and note: "this excludes fouls that are not specifically reviewable".
Limitations on Reviewable Plays
ARTICLE 6. No other plays or officiating decisions are reviewable. However, the replay official may correct egregious errors, including those involving the game clock, whether or not a play is reviewable. This excludes fouls that are not specifically reviewable (Reviewable fouls: Rules 12-3-2-c and d, 12-3-4-b and 12-3-5-a).