Eastern Ky-Murray St on ESPNU

n last night game an official called a Player control foul on a Murray State player. This was at the 12 minute time out. The referee on the game came over to the calling official and talked to him and they went to the monitor. They then talked it over and went to the monitor again. They again talked it over and went back to the monitor for the third time. After all of this the took the foul away from Murray State and gave the back to Murray State at the POI. Has anyone ever seen this done before and was it done correct?