The fact that Magglio easily made it into 2nd base, and Frank had a better look at the play does nothing for you? It was a bad play by Frank, he was out by a mile. I'm not blaming the game on him, but if was one of your whipping boys out on 2nd, you'd have a different opinion.
No, I wouldn't. The ball should've been caught, the runners saw that and had to stay close to tag up if they had any play after the catch. Maggs is only slightly faster than Frank, and may have 'cheated' a bit on his lead, he does that a lot, but who would you figure to throw out if you were the fielder?
On that type of a play? Walker is running full out to the OF from his 2B position, as an IF your instinct would be to make the closest play (being 2B). For him to be able to miss the ball, pick it up, turn around towards the IF, and still be able to spot Thomas far away from 3B, and still have enough time to get a throw there to beat him by plenty means that Frank was way too close to the bag. He must have been practically standing on the bag, or got a terrible break on the ball running to 3B.