Great catch but why was it considered an out and not a home run? The player and ball were both out of the field of play? I may have missed the reasoning and not sure what the rules state in that situation
If you jump from live-ball territory, and catch the ball before you touch dead-ball territory, it's a catch. Any runners in this situation would have been awarded one base (unless this was the third out).
It's not like football where you have to get one or two (depending on the code) feet back inbounds to have a legal catch.