The conversion being the 'point of no return' event which determines whether something can be reviewed by the TMO or not has always seemed strange to me.
If a team is concerned, it has always been a dead giveaway that something needs to be reviewed when they rush to kick the goal or even attempt to drop kick it.
Just give the TMO 30secs to call time off for a review or it's play on. I imagine they're supposed to be reviewing suspect footage all throughout a game and not just when there is a stoppage or foul play.
They do review everything leading up to a try, regardless of whether there is an on-field referral - but I suppose the challenge is 30 seconds isn't a lot of time to review a passage of play from multiple angles, and potentially watch something 2-3 times over to ensure you're correctly interpreting what you're seeing.
Obviously if a try is disallowed after a conversion - or at the end of the game but before the referee has whistled full time - would be hugely controversial even if the decision was correct. But I think putting a time limit on this would either see more incorrect, high-impact decisions standing or more TMO referrals which delay the game.
I think this is a great compromise as 99% of the time we see the game continue while reviews happen quietly in the background, and when on field tries are escalated by TMO's, by that point they are merely showing the refereeing what they've seen and the game quickly moves on with the new decision.