This is one of the things American football got right. There are a hell of a lot more stoppages though, so I can understand wanting to prevent holding up the flow of play. Still, we'll just end up with four minutes of added time instead of the standard three. I'm fine with it.
He says it can only be done when all the matches are televised, but that's not strictly true. All the matches are filmed, so it can be done, just not by Sky. They'd need a "dubious decisions panel" or something.
I'd love to see Wenger throwing a little yellow flag onto the pitch and then holding his arms out like he does. That would be awesome.

I know its still early but it's about damn time they've had something like this to be tested.
It irks me to no end when managers get punished for "criticising" a referee when everyone knows that the referee messed up big time. If a referee makes a blatantly obvious mistake he should be called out on it.
So hopefully this will go towards making football a fairer game and stop stupid decisions being made.
Thanks Taker_2004 for the banner!