11 was out on the gunner at the snap so he is okay.
UCF Coach and CUSA have spoken on the play:
http://articles.orlandosentinel.com/2012-12-01/sports/os-ucf-tulsa-conference-usa-championship-game-stor-20121201_1_jordan-rae-ucf-coach-george-o-leary-kemal-ishmaelThe contest turned on two key moments.
The most glaring was Tulsa junior Trey Watts' 54-yard punt return for a touchdown with 5:06 remaining in the game. It tied the score.
UCF punted into the wind from its own 10-yard line, and when Jamie Boyle's kick bounced backward in the air, senior Kemal Ishmael leaped and batted the ball toward midfield. As Brendan Kelly slowly approached the ball to down it, Watts swooped in to pick it up. Watts raced down the left sideline for a touchdown.
There was confusion among UCF players about whether the play was whistled dead and also if Tulsa players came from the sideline onto the field of play, but the return stood and the score was tied.
"The other kids coming down there were in pretty good coverage lanes, they said they heard a whistle," UCF coach George O'Leary said of the Knights. "Whatever. They should have still played the ball. And that kid made a good play and congratulations to him."
In a statement, C-USA coordinator of officials Gerald Austin said there was no visual evidence that players entered the field from the sideline and "there was not a whistle blown during the runback. In the replay you can see the whistle of the back judge swaying back and forth."