Because he didn't balk. Once legally disengaged, the pitcher can't balk with a throw to, or away from, a base. So this just becomes a non-legitimate pick off attempt and that is an action clock violation.
Remember, the balk would have been for throwing to a defender away from 3rd base (a feint to 3rd) which would have to come from an engaged position. As soon as he disengaged, he can feint all day.
The ball becomes dead once we determine that it isn't a legitimate pick off attempt and we enforce the action clock violation... yes. Maybe I am not following your question/statement?