Unfortunately, I did not see that play and am not sure of NCAA rules.
According to your description I assume B1 was attempting to intercept the pass. Therefore, the ball is in team possession of A. By the strict interpretation of the rules B has not completed a catch has he has not come down inbounds or caused to go out of bounds by an opponent. Therefore, no catch.
But, you could loosely interpret B1's securing of possession to alter team possession as he had control. His subsequent act of throwing the ball forward is an illegal pass.
This is one of those situations where you can justify it either way. And, of course, one side is happy and the other not.
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