That makes no sense. Why would they hold on to the ball? It shouldn't say Shot Clock Violation either. Its definitely a bug.
I can see a case conceptually for calling it that - if the player launches a shot and then it turns out to have still been in his hand when the clock strikes 0.0, even if the shot goes in it doesn't count because time expired. As for holding on to the ball, it might be that it got knocked loose and recovered without enough time to hoist a shot, or a player was trying to get an open shot and finally misjudged the amount of time available, or anything like that. I suppose officially it wouldn't be recorded as a violation since there's no turnover or shot, just that the game ended, but of course I suppose seeing that is better than seeing a game winning shot and then text that "...but it was after the buzzer. You lose!"
Terminology aside, though, BB-Marin's already confirmed it as a bug, so there's not really a lot to add to the discussion.