This thread is getting repetive. Let’s make our final statements on the subject, since nobody’s opinion seems likely to change, and then lets move on to the next argument over rules that won’t change anyone’s opinion either.
BTW, for those who want an online copy of the rulebook, do a search on posts by Mr. Forsythe, I suspect he’s getting close to having posted it all.
The last word on this topic, if the flag falls with the player having mating material, can we be sure if the game is won or the player gets two minutes. If we let the mood of the director be the final word, we have given the director the right to play dice with the games. Do we want a director that follows the rules, or do we want a director to make the rules. Do not mind if a director has solid reasons for the rules, but the rules have to be equal to each other each and every ruling. If the director role the dice to find out how to rule, than the rules have become rules of chance.
Why not have a wheel that the players can spin, you have win, loose, and draw. The rules can be very simple, able to get onto one page. Who says we have to live in a society of laws, we can live in a society of chance. Lets not change the game to the spin of the wheel.
you don’t get the last word! 
Terry Winchester
It seems the concensus here is that black won the game on time. This is unfortunate, as he did it with an illegal move!
White’s punching of the clock is relevant here, though, as has already been explained by John - it’s no longer white’s move, so he can’t make a claim.
But, I wouldn’t look at the capture of the King, even though it’s not proper, as illegal. Rather, it would serve as an implied illegal move claim, esp. in this panicked situation.
I’d like to see the rule allow, among other things, the king capture an implied illegal move claim, provided the player doesn’t stop the clock. However, if white does indeed punch his clock, then I’d say the ruling in favor of black is proper.
Terry Winchester
It is worth noting (though perhaps on a new thread) that this arose only because of 11D1. Under 11H, if the TD observed the infraction he would simply have told the player to make a legal move instead. This is one of the reasons I dislike 11D1, though by no means the only one.