Changing a "Foul" call ?

[bigda65]

Wanted to get some of you guys opinions on this sitch.

R1 and R2,
Both runners running on the pitch, the ball is foul tipped and the catcher proceeds to throw the runner out at 3B. Umpire called foul ball on the foul tip (which we all know is a live ball),

If no-one reacted to the foul call, in what rule sets do we change the "foul" call?

I believe in LL and OBR the out stands, "we unring the bell"

In FED we have no choice but return R1 and R2.

In a FED game, what would you do in a case where it was the third strike?
Do we return runners and let batter continue?