Not going to comment on the timeout aspect, but it seems the officials reset the clock to :01. They are not supposed to do so. Replay rules only allow the clock to be reset when the clock starts on the ready for play and there are 3 or more seconds remaining and the offense has no timeouts. The reason is that the rules makers believe it is impossible for them to snap the ball from :02 or :01 before the clock hits :00 if the ready for play is correctly given and the clock starts accordingly. Onfield officials are instructed not to reset here and let it go to replay. Replay would have allowed the game to end at that point.