Woods hooked his tee shot on the 14th hole at Sawgrass into water to the left of the fairway and ran up a double-bogey six which almost derailed his title challenge.
But because it was difficult to tell if the world number one had dropped his ball in the right place, tournament officials felt moved to issue a statement clarifying the situation.
A statement from the PGA Tour rules committee read: "Without definitive evidence, the point where Woods' ball last crossed the lateral water hazard is determined through best judgment by Woods and his fellow competitor (Casey Wittenberg).
"If that point later proves to be a wrong point (through television or other means), the player is not penalised by Rule 26-1 given the fact that a competitor would risk incurring a penalty every time he makes an honest judgment as to the point where his ball last crosses a water-hazard margin and that judgment subsequently proves incorrect (Decision 26-1/17)."
At the Masters, tournament officials were alerted to the fact that Woods may have taken an incorrect drop on the 15th hole of his second round by a television viewer, but cleared the world number one of any wrongdoing and failed to inform him that there had been concerns.
Woods therefore signed for a 71 before saying in a post-round interview that he had gone "two yards further back" from where he hit his original shot after seeing it hit the pin and bounce back into the water. Under rule 26-1a, he was obliged to drop "as nearly as possible" to where his original ball had been played.
That would normally mean a two-shot penalty for playing from the wrong place and disqualification for signing an incorrect scorecard, but under rule 33-7 the rules committee waived that sanction and penalised Woods two shots before his third round on Saturday.