They keep talking about it being a bad call and what not, but I haven't heard anywhere what the actual rule is that was being enforced 'correctly'. I saw the guy catch the ball in the end zone, land on two feet in bounds with control of the ball, and that looks like a touchdown. Why exactly is this NOT a touchdown??
The rule, screwy as it is, says that IF you are in the air when you make the catch (as opposed to already having 2 feet on the ground) that you have to main control of the ball all the way through the catch AND landing back on the ground.
In the field of play, they have the "make a football move" rule... so you can catch, then drop, and it is incomplete unless you had possession long enough to do something else.
In the end zone, there is no "make a move" usually because breaking the plane of the goal-line makes it a score...
So the grey area comes into play in the end zone as to when the catch is complete.
In most people's eyes, the play is complete when the player controls the ball cleanly AND is 2-feet down (or knees + butt down). The hand doesn't count in this case because in the field of play a hand can be used to re-steady yourself and stay up rather than down by contact.
The problem with the rule, in this specific case, is... it requires an official to essentially judge whether the catch process was complete and player was down on the ground and the ball came loose OR it was incomplete because he didn't maintain the ball OR it was a TD and he let go of the ball as he was getting up.
The "getting up" part is the nebulous area where the ref has to decide if that release of the ball was at the end of the catch process OR when the player was getting up to celebrate.
So I think the rule was called as correctly as it could under the circumstances... but again, it is a crap rule that needs to be looked at again.