In my (Monday morning quarterback) opinion, the guy made a bid too late for centerline, a critical point at which he should have swallowed his pride and gone around. It fell apart from there, he got to the centerline, but his crab angle was too great due to his previous steer towards the upwind side so he decided to kick it out and point it down the runway. As the upwind wing accelerates due to kicking it out, it generates more lift than the downwind wing and therefore that side rises. If you don't put enough wing down in (right wing down in this case), you will strike something, either engine or wingtip depending on engine location and the altitude of the strike.
De-crab sounds really easy in theory, but it actually can be quite difficult. There is just a lot of stuff changing as winds increase and die out, wings are rising and falling, you are trying to flare the plane and change two other dimensions at the same time. I much prefer WDTR, you just don't change as much since you can ride it down to the ground. Unfortunately, with about 20" or so of clearance depending on gross weight, the E-6 just didn't do WDTR since it could only do max 5* AOB on touchdown (assuming you landed on the centerline, if you landed off center and the inboard engine was over the crown, you could strike with less AOB)
I have had my share of landings and some scary moments with some of my 2/3P's where I have immediately gotten out of the seat after shutdown and checked the bottoms of the pods. The 707 just wasn't designed for CFM engines.