Although Hochuli made an error, I believe in this case the 'cure is worse than the disease'. The proper fix to the problem, in my opinion, is to train the refs to let the play continue if there is any doubt in there minds. After the play is over they can concur and get another opinion, from another angle. Then, as a last resort, they can go to replay if they need to.
I have a major problem with any rule that bases an outcome of a play on what happens after the ref blows his whistle and signals the play dead. Players are taught from there very first Pop Warner practice to go hard till the play is whistled dead. Now you want possessions to be determined on what happens after the whistle blows? Uh-uh. Exactly when, then, is a player supposed to stop? This would tell the players 'keep going, it might be a live ball'. How would you determine what is a late hit?
Right or wrong, the whistle blows, players should stop and that's it - the play is dead. Anything that happens afterwards is irrelevant - even if the ball was loose.