The NCAA-W has a recent ruling on a similar situation that may be instructive of the mindset of the rules makers. Officials are allowed to use a TV replay (if available) to see if a foul is flagrant. But they must use the monitor before they report the foul. If they report the foul as flagrant and the replay shows it was not (because contact with the elbow was below the shoulders), it is too late to change it.
As much as we may want to insert our version of "fair," we need to have solid support under the rules to do it. I don't see any rule that allows us to unring this bell.
The case play:
A. Monitor: reported intentional personal foul (2-13.2.d)
Play 1: An official reports an intentional personal foul on A1 for illegal contact above the shoulders of an opponent. The opposing coach asks the officials to go to the monitor to determine if the foul was flagrant. The official chooses to review the monitor to see if a flagrant foul occurred on the play and upon review sees that the illegal contact was actually made below the shoulders. Is the official permitted to change the intentional personal foul that has been reported to a common foul?
Ruling 1: No.While the officials are permitted to review the monitor to see if a flagrant foul occurred, Rule 2-13.2.d states that when it is determined that a flagrant foul did not occur but an intentional personal or a player/substitute technical foul for dead ball contact foul did occur, those fouls can be penalized, but no other infractions may be penalized. When the official reports an intentional personal foul, that foul cannot be downgraded to a common foul. (Rule 2-13.2.d)