Not sure this will help too much, but here's a clip of the play from the end zone:
http://vmedia.rivals.com/uploads/1182%5C1003845.wmv
I haven't seen the play from the other angle, but I think it comes down to one of two situations:
1. Nicely gets stripped and pounces on the loose ball. Apparently he doesn't gain possession as Akron No. 71 reaches down for the ball, at which time two Can't State players dive in as well. From there, it's a scrum and Can't State No. 30 ends up with the ball.
OR
2. Nicely gets stripped then gains control of the ball and should have been called down. Akron No. 71 took the ball away from him, but could not control it. The two Can't State players knocked it free and Can't State No. 30 comes up with it.
Either way, I think the officials should have reviewed the play, especially considering the magnitude of the situation.
Personally, I think situation No. 1 above is probably closer to the truth, although it's hard to tell if Nicely does get possession. It "looks" like he does, but it's just odd that No. 71 would reach down and pick it up out of his hands. Not only that, but it doesn't look like Nicely's arms get tugged as if another player was pulling the ball out of his hands.
Again, I haven't seen a replay from the front, so it's hard to tell.