Don't get me wrong, I think the college OT rules are more "fair" than the NFL's system, but just like PKs in soccer: It's not like the rest of the game.
I'd love to see football make some rule tweaks to make onside kicks more recoverable. It makes the game more exciting if you know that any team can come back at any time. But rather than invent some new situation, why not make defenders set up 15 or 20 yards back from the kicking team, giving the kicking team a slightly higher chance of recovery?