I think there are some important points being made in this thread. Players have gotten faster and stronger, and officiating has gotten more difficult, and officials face more pressure from every side of the game -- the players, the coaches, the fans...than they did before the era of high definition TV and replay, when it just wasn't possible to really evaluate the refereeing unless you were court-side.
Even if it is not possible to quantify whether reffing has gotten better or worse, we have the tools to make it better, and college basketball generates enough money to easily do so. Thus, any responsible basketball organization owes it to the future of the sport to improve the game where it is possible...officiating is the low-hanging fruit, the easiest to accomplish. The NCAA can't really control the AAU circuit, one-and-dones, or the overall skill of the players or the coaches, but they can easily improve officiating.
1) Game and travel limitations. In order to be at peak performance, refs need to be physically and mentally rested. The crazy travel demands and sheer amount of games these guys do as contract employees is detrimental to the game. Lets just use Karl Hess as an example. He refs almost 100 games a season all along the eastern half of the United States. To start this season, he refereed in 13 games in 13 days, in 12 different states...the shortest distances being a Philly-Newark-Philly stretch. During this time he also had a 4 game stretch where we went from Virginia to Arkansas to Florida to Ohio.
source:
http://statsheet.com/mcb/referees/karl-hess
2) Physical fitness. Refereeing is about being in the right place, at the right time. You have to keep up with the players and should actively be seeking the best angles on the court in concert with your officiating team. I am not saying we need track stars, but better fitness should produce better results. One of the things that watching a lot of NBA makes clear, NBA referees are in better shape than college referees. I am not saying you fire a ref for failing to hit a certain time on a mile, but fitness results should be a part of the overall evaluation of refereeing.
3) Better use/investment in technology. I agree with the posters above...for reviews get rid of those dinky monitors, give refs a high quality picture, noise cancelling headphones. Better yet, refs should have noise cancelling headsets on the whole game, and should be mic'd up together. This would minimize miscommunication and hopefully reduce the influence of a crowd on momentum/home court calls. Each coach could have a button/buzzer that is sent to the headphones to call a time out. It would also shield officials from the abuse of coaches and whining by players.
4) I think to accomplish any of these things, referees will have to be salaried in order to reduce the incentive to ref as many games as possible. Contracts could get reviewed and renewed every 3-ish years. Maybe two years with a one year probation (or 3-1, 2-2, etc) notice if their performance isn't up to par. Now, the logical place this could happen is in the individual conferences (this would also reduce mileage once the conference season starts), but then of course you have issues such as will officials become biased to the conferences that employ them, biases due to familiarity of players and coaches, how are games between conferences handled, etc.
Overall though, I think referees love basketball and they want to be professional and excel at their jobs. Conferences or the NCAA should give them all the tools, support, and training they need. The money is there. Just need the will.