You're right. Should've blown the whistle right after Robben missed it.
Anyway, this is my last word on the matter. It was a dreadful game of football with less entertainment value than the game where you hold a chocolate bar fractionally within the each of a small child, make them jump for it, and then move the bar. There were fewer moves of footballing quality than your average desert tribesman has toes, following a double limb amputation. Neither team appeared particularly keen on playing football: the Dutch were completely blatant about it, however Busquets' role in the Spanish side is just van Bommel light, and it is telling that they haven't been digging the boot in off the field as well.
Whining about refereeing decisions is an irrelevance: on balance neither side benefited - there are days when Holland could have been down to nine at half time, and days when they could have had to abandon the game, Colin style. Yes, Elia could have have a freekick, but he's also the Dutch version of Shaun Wright-Phillips and had already lost the ball. Yes, there are other decisions that could have gone other ways, but there is no way it can be argued with a straight face that the failure to show sufficient cards cost the Dutch. That goes right in the same box as those blaming England's exit on the linesman - no, we lost because our defence may have been the worst in the tournament outside Kim Jong Il United's, and you lost because Robben blew a one-on-one.
Now get over it.