Makes sense. You run a low risk running play, instruct your back not to fight for yardage, just protect the ball at all costs. Least possible room for error.
In the game (Potato Bowl) they threw it downfield, connected and the WR was tackled inside the 10, and then ran the clock out.
Honestly I don't think the playcall matters THAT much. With the exception of the sorts of playcalls like a throw to the flat that admittedly has a very low pick-six percentage, but has a high probability of pick-six *if* it's picked off...
I suppose there's a better question. At the opposing 39 you're not punting... The most likely outcome of a punt from there isn't pinning your opponent on the 2 yard line, it's a touchback and they're on the 20. And kicking a FG only gets you to a 16 point edge, which is still a 2-score game, and a 56 yard FG isn't very commonly hit at the collegiate level... And if you miss, the opponent is at the 39. Assuming it's not blocked, which is an option on a 56-yarder because it has to come off pretty low to have the distance.
So the better question is... At what place on the field do you punt rather than go for it? I'm guessing for me, it's somewhere around my own 35 yard line. Inside my 35, I'm starting to get into "one play TD" risk if I don't make the first down. But given it's a 2-score game, with 47 seconds left, there is SUCH a huge advantage to making the first down that you need to be aggressive...