Since you are the one with insufficient material to MATE the other person, even with worst play from your opponent, it's a draw, not a win. No matter how hard black tries, he can't get mated. By this, you won on time, but not the game.
Error?!?

Yep. At an OTB tournament your opponent would call over the TD who would claim draw due to insufficient material.
The TD can also make a subjective call (at least at some functions), and claim you have "insufficent winning chances" but I hear they are loathe to do this.
In your case it is quite objective, as you cannot mate even with the upmost help from your opponent.
http://www.chess.com/livechess/game.html?id=6472295
check this game. i won on time but it says "insufficient material - game drawn"
can adminstrators correct this?