The horn does not make the ball dead, as we know. Thus the calling official was correct in the OP: simple OOB call during a live ball.
That said, I would also be sensitive to the circumstances of the horn. If the home team is up by 1 with 15 seconds to play and the visitors are driving to the basket, it's a little fishy to have the horn go off and kill the possession.
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Cheers,
mb
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