You are absolutely right about the rule.
It was explained by the B1G that what they were reviewing was if the receiver was TOUCHED (contact), not if he went out of bounce. It was obvious he went out of bounce. If he was TOUCHED (made contact) IN ANY WAY, since it was originally a "judgment call", the play had to stand. It was non-reversible. If the replay showed that he WASN'T touched (made contact) IN ANY WAY, they would have reversed the play.
As per the rule you quoted, of course "touched" and "contact" mean the same thing. No one from the B1G has said it was good call or the right call per the "judgment" end of it, but have merely said technically, as per the rule you stated above, it was non-reversible.
BUFFALO LION -
"It was obvious he went out of bounce."
No spring in his step?