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1. Yes offensive goaltending does exist. Neither an offensive nor defensive player is permitted to touch a ball in flight on a try that is above the level of the ring, outside the cylinder, and has a chance to enter the basket.
The rule writers for the NFHS knew that this prohibition must apply to the offensive player as well in order to maintain a proper balance of play, as it would clearly be unfair to permit an offensive player to go after such a ball and attempt to direct it into the goal, but to forbid a defensive player from making a play on it. A tall player who is positioned near the basket would have a tremendous, and unfair, advantage if he were allowed to guide errant shots into the goal. That would in effect place a large funnel near the basket for the offensive team.
2. Yes, defensive goaltending of a FT does exist and is a technical foul in addition to a violation per NFHS 9-12 penalty 1 and 10-3-10.
The recent NCAA game to which you referred was Kentucky vs. Georgia in the SEC conference tournament. The officials properly penalized the play.
3. I have not personally called it nor seen it called, but have been told by some longtime veteran officials that the rule came into play to counter the actions of players such as Wilt Chamberlain and Lew Alcindor back in the late 50s and early 60s.
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