He did not call the dogs off at the 7-minute mark, as the post-game interviews with the coaches and Stewie made clear. The team stopped playing well at that point, fortunately with a 22-point lead. Even playing relatively poorly, they still won by 17. Louisville outscored UConn in the last 7 minutes by 14-9, which should not have happened but certainly was within the realm of plausible outcomes.
I don't think the game was really in doubt. Both the offense and defense were working as designed (UConn shot 49+%, Louisville 36% -- both near UConn's averages for FG% and FG% against). The 17-point margin was probably about right for the difference between the two teams. It would not surprise me to see a 10-12 point UConn win in Louisville, which would also seem to be about right.