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Yes, its happened to me a few times. Sometimes no counter offer at all. It just says sorry we can't match that.
I've had lots of good luck with the price matching. I would assume that they just didn't have that much room on those particular items.
I've experienced that when doing a "make offer" item. I guess they just wont honor some items at a price point below a certain level. I would actually speak to them on the phone about it and see what they can do. Bud's has great customer service usually.
My guess is the other price you found was way below Msrp and buds could not match that price.
Occasionally a dealer will buy a large inventory of a popular product and they don't sell as quickly before newer products start to come in and they need the room, so they will sell them just above their cost to move them quickly. This makes it very hard for others to compete due to the fact they would selling a product at their cost and no profit to be made. So it does happen and good deals for the consumer are but it ends there.
Offer was too low. Try logging out then back in and make another offer.