NCAA rule 12 section 3 article 6 only allowed a review in this circumstance to correct "egregious errors" involving the time clock. I.e., if an "egregious error" had not occurred, then the play was not reviewable.
There was no signal from officials to stop the clock in real time, so the clock expired and the game was over. Then they decided to put it on replay frame by frame and found that it hit the railing in the stadium with 0.8 seconds left, called that "egregious", and put a second back on the clock.
Less than a second = not egregious. This is the hill I will die on.