In either case it should not have been called a travel because the player made a shot attempt or "try". There is no control, team nor player, during a "try", therefore there can be no violation. This is a common mis conception of fans, coaches, and some officials.....catching an airball=travel. Wrong.
As for the reversal. If both officials agreed on the play, the call could have been reversed. The object for the officials is to get the play/call right. Upon reversal, explanation could take place and the ball could be given back to the team that was wrongfully penalized. Not a 'pretty' situation and not a situation you would like to see officials continually be involved with, but right nonetheless.
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