I give the refs a pass on that one, I thought it hit the ground too, they can't let every play go until a defender quits running with the ball, or the games would last 6 hours.
Or someone would get hurt. No, the refs made the right call in blowing the whistle; it sure looked like an incompletion in real time to me, too, so to the refs there was no obvious need to let the play continue and therefore they blew the whistle. But they corrected it the best they could following replay. No, I have no complaints about that call at all.
(and I'm sorry, but when I glanced at this thread, I thought it said "bad call suppository" -- pretty appropriate, really! :D )