It was a foul, thus a penalty. Sure Kalou made a show of it, arms in the air, the dying swann, but it was a foul. Thus a penalty
It wasn't a foul, thus a dive. Mejuto should have booked Kalou. His second.
Mejuto couldn't see it right, and his assistant isn't good enough. The referee just wasn't sure so he compromised: he did nothing. Maybe not really the Mejuto/steaming bull way but it more or less worked.
If you hardly book, players foul more, maybe not always everywhere, but this lot did. Pushing and pulling in the area, kicks from behind. Very manly and all that, but not good for the game.