His thinking, though incorrect, was that if the Colts had the ball less, they would score less.
A game plan to limit their TOP was right on the money. That's exactly what you want to do. But there's things you don't plan on -- like giving up 5 TDs in less than 3 minutes.
A reminder on how the Colts scored 5 of their 7 TDs:
Drive #5: 2 plays, 29 yards - TD - time elapsed 0:14
Drive #7: 2 plays, 72 yards - TD - time elapsed 0:59
Drive #9: 2 plays, 80 yards - TD - time elapsed 0:53
Sanders Fumble Return - TD
Hutchins Interception Return - TD
That's 5 TD's allowed -- 35 points --- that took less than 3 minutes off the clock. Three of those TDs were allowed in 6 plays by a terrible defense -- even though 2 of those drives started in advantageous field position for the Texans. The other 2 were TDs given up on returns on turnovers (while passing).
Blaming the Indy meltdown on "Palmer's" game plan is about as misdirected as you can get. This was a total collapse -- offense, defense, special teams, and coaching for not making the necessary adjustments (like at Denver) to stop the bleeding in the 2nd quarter. It had nothing to do with the game plan to play keep away (at least those 5 TDs didn't).