If they were freaking out because they thought time would expire, then I agree. But if they're educated fans they might just have known that many NFL and college coaches believe that it is better (even if a couple seconds are left on the clock) to have enough time to spike the ball if the snap is bobbled on third down, and then kick the field goal on fourth down.
That is actually a very smart thougt. All coaches might not necessarily agree, just like in basketball with the decision to intentionally foul with under five seconds to go and the other team is down by three, instead of allowing them a chance for a three-pointer to tie it. Not necessarily right or wrong, but a different opinion on coaching philosophy.
Not all fans were idiots that wanted a timeout called without seven seconds to go.