I'm not too familiar with NCAA rules, but I seem to remember something similar happening in a game I played in five or six years ago... It was an illegal kick instead of a bat, but I believe the enforcement is the same... They enforced from the previous spot, and allowed the kicking team to retry the point...
I'm sure the rationale is that since the place kick was never possessed, the kick never ended... And enforcing a foul during the kick behind the LOS would be from the previous spot...
But then, I've been wrong before too...