I didn't see it live but Jerry Bailey was on ESPN this morning and said it was absolutely the right decision. He said that horses veering lanes is where people (and horses) get hurt bad. He said that if the jockey for War of Will hadn't acted immediately, there would have been a pile up.
He was actually kind of upset that it wasn't an immediate Steward's Inquiry as opposed to an appeal. He said they should have taken action before an appeal had to be submitted. Honestly though, on replay its hard to see so I'm not surprised they didn't immediately call it.
Bailey is a Derby winning jockey, BTW, so he has been there done that. I don't know if he has any agenda though (like he likes\dislikes a trainer involved or something--horse racing seems to have some sort of court intrigue attached to everything).
I didn't hear anybody saying it was an intentional foul by the jockey, they think the terrible conditions were to blame.