I think they got it wrong, but that should surprise no one when Wagers' crew is involved. They are terrible and have been for years. Spots were very iffy both ways all night. They gave them a full yard on their 4th down try, though it still wasn't enough. Last week's crew wasn't significantly better and also had a close call that could well be said to have influenced the game's outcome. Which crew did Arky/A&M?
That said, I don't think it "changed" the game or affected the outcome. Arkansas was out of TOs and by the time they got it marked for the fourth down play my best guess is that we would have had to snap it with maybe 20 seconds or so left. So yes, they could have blocked a punt (if we had decided to punt instead of running a play) and returned it into FG range or for a TD. By the end of the punt or other play, they would have had time for perhaps two plays, more likely one, from deep in their own end. And yes, they might could have hit the hail Mary. Equally, we could have run for a touchdown on the 4th down play or recovered a muffed punt, or pulled a pick six on the Hail Mary. Can't sort that out.
What you can sort out is getting a decent set of officials for our conference. What we have is substandard and that's as nicely as I can put it.