To validate this answer, understand the the officiating manuals used by all NCAA football officials is published by the Collegiate Commissioners Association(CCA). That means they approve the Philosophies section of the manuals.
Now, to quote the pertinent statement from the Philosophies section of the CCA Manual: "If the passer is legally throwing the ball away out of bounds, near or beyond the sideline, do not penalize the offense for having ineligible players downfield."
The offense gains no advantage by having ineligible players downfield when the ball gets thrown away where virtually nobody has a chance to get to the ball.
Correct ruling by the crew.
Robert