In rugby, the TMO has often focussed on one incident and missed another, more important and material incident. This has led to howlers and so it is right that time is taken to review the situation. Rugby has tried to playback to the crowd discussions between TMO and the referee. Not sure if football could learn anything. In fact note sure if it works for rugby but the crowd which is increasingly being disenfranchised deserves better.
At prem rugby grounds you can tune in to the refeees mic on an earpiece so you are fully aware of all decisions, all discussions.
The announcing to crowd is being trialled in Prem Rugby Cup matches, we will wait and see.