Is the ref allowed to just waive off a goal for absolutely no reason?

The Rangers scored in the 3rd period against the Sabres and the ref stepped in and disallowed it. The replay shows that abssolutely nothing illegal took place. There was alot of traffic and there was speculation that it might have been the intent to blow the whistle crap. But the puck was sitting in the back of the net for quite some time before the whistle blew. Unless he's crippled I can't imagine that it'd take the ref a full 3 seconds to get the whistle up to his face. Right now it looks like the goal was disallowed for absolutely no reason whatsoever. What's goin on?