Iowa v Ohio State fake field goal

[kentref]

In Saturday's Iowa v Ohio State game, Iowa set up for a field goal and then executed a successful fake when the holder flipped the ball back to the kicker who then ran around end for the TD.
My question: The holder was still down on one knee when he flipped the ball to the kicker. In NFHS the ball would have been blown dead at the point where the holder was. Is this situation legal in NCAA?