The QB simply throws the ball out of bounds near a WR. It's done all the time and is rarely called grounding. I'm not sure why you have a boner about this play. Losman needs to learn to throw the ball away, period. He thinks he can make plays with his escapablity and sometimes he can. Most of the time, however, he ends up making a bad play. I'd easily sacrifice the good plays to eliminate the bad plays.
Losman has a lot of potential but one of the things he needs to learn how to do (despite your claims that it can’t be done) is to simply throw the ball away.