An Out-of-Turn Call Becomes a Raise (NLHE)

[Mempho]

Some time ago, I was involved in a hand where a ruling was made that I'm not so sure was correct.

Here's the situation:

I take a flop 3-handed with T9 in an average 1/2 NL game. Both stacks cover and effective stacks are about 250. The flop comes down something like A-7-6 rainbow. I'm second to act.

The first player pays off with any decent pair and bets out like $15. I hesitate for a moment and take a cursory glance at the button because the button is a somewhat unpredictable player that is known to make some outlandishly huge raises. I decide to fold based on this player's history of doing just that.

The actual delay is no more than a second and a half or so, but, before I can act, the button flat calls the $15. Knowing that the first player likely has an Ace and pays off big, I decide to call since I now know that I'm going to see a potential payday card on the turn for just $15.

I call and the button says, "My bad" and takes back his out-of-turn call. He then proceeds to raise to like $75.

Now, you can see why I would be less than happy. I would have saved the $15 if the button had not called out of turn. I would have gotten to see the turn and had an opportunity for a big payoff had the button not "revoked" his call and turn it into a raise. So, I got the worst of both worlds here.

I'm more than a little disgusted and I call for the floor. The floor rules that since the button's call was out-of-turn, that he wasn't committed and still had the opportunity to raise. I argue that he is verbally bound to no avail. I further accuse the button of shooting angles.

Button apologizes to me like 15 minutes later and says that he didn't realize that I was in the hand and that he decided to raise on the basis that I was in the pot and likely drawing (a correct assumption). I accept because it really does me no good to keep arguing about it and the amount was trivial in the scheme of things.

First, was the floor's ruling correct (as generally applied)?

Second, if the ruling was correct, were the button's actions (if he "purposefully" called out-of-turn) ethical?