Just watching the interview after the hand, that Bill Perkins is so full of shit. I claims he put Laak and Duhamel on overpairs when he made the big raise after the flop. More like he found out what they had before the interview and he wants to make it look like he knew what was going on.
First of all, you didn't link to the hand. Secondly, while I didn't see the hand myself, from your description Laak's fold is super standard. Here's why:
Laak knows it's highly unlikely for his opponents to be semi-bluffing due to the dryness of the board. The only hand that can do that is 54 and Duhamel probably isn't calling a preflop raise with that hand out of position anyway. It's also highly unlikely for "noob" to be bluffing into two players who have both shown strength. This means Laak's opponents both likely have made hands.
It's possible for one of his opponents to have top pair and another to have a hand like 99, but it's more likely one of them has a set. Furthermore, even if Laak is ahead both of his opponents will fold if he raises, but if he's behind and raises he's going to be on the hook for a lot of money with almost no chance of sucking out.
Two things crossed up Laak here. First is that Duahmel didn't 3bet preflop with QQ. In a vacuum this is a bad play by Duhamel, but by doing so Laak has incorrectly removed big pairs from Duhamel's hand range. The second thing that crossed up Laak is that most players in "noob's" shoes would understand that launching a bluff is suicidal in this spot because both opponents are representing class hands. He got away with it because Duhamel didn't have what he was representing.
Just my opinion... but again Laak's fold is super standard.
What threw me off was how quick he threw it away must have just thought he had a read. I guess there's lots of situations, ala raised three way pots where a pair is no good, even if you started the hand with it making it tougher for a lot of folks to throw it away.