That only applies on inbounds plays where a guy catches and shoots. And it's an NBA rule.
Nope, it's across the board...college and high school as well. Doesn't apply in this case as it was a normal play and not an inbounds play.
HORRENDOUS call. I was watching the game last night and on live speed, you can't tell but how the refs can look at that replay and not realize that in one frame, the ball is barely touching his fingertips with the red light off and in the next frame, the ball is out of his hands and the red light is on. Pretty cut & dry. Doesn't excuse the Buffs for yakking on that lead but still, they won the game. Then, the Pac-12 head of officials comes out with a statement today saying that he agreed with the call.
Also, the monitor at the scorer's table was standard def and not HD, which probably led to enough of a blur that the refs couldn't tell. But if they called it good on the floor, then it wouldn't have been enough to overturn.
Tough week for officials when you add this disaster to the clowns in the UCONN-Marquette game starting overtime with the teams going the wrong way and UCONN getting goaltended. Refs realized they screwed up, then took the points off the board and gave Marquette the ball, which again was wrong. Though, admittedly, I'd have had it wrong too and had to scurry to my rule book to get the exact wording of it. Then, it made sense.