Bart and BktBallRef are correct. If there is player control when the request for a team timeout is made, then the timeout request must be granted.
I am not sure how long Bart has been officiating women's college, but the head coach has been allowed to request a team timeout in women's college for over 30's years. I know that there are H.S. officials who do not like having head coaches request team timeouts, but a good pre-game and proper mechanics can reduce the problem that happened in the posted play.
From the description of the play I am going to make an educated assumption that the officiating crew was a two-man crew and that the Trail official was Table-side. In situations like the posted play, the official who is Opposite-the-Table needs to be aware of possible timeout situations and should be the official who grants the head coach's request for a team timeout. This eliminates the need for the Trail official in this play from having to look away from the ball to verify who is requesting the team timeout.