I thought it was pretty obvious when I was watching the fight. It's certainly no excuse. training ineffectivly, whether it's overtaining, undertraining, or just lousey training will cost you in fights, period.
I think someone, whether it's Roach or Ariza is doing him a disservice by having him train so early on, first the Mosley fight and now this last one with JMM. Ariza has said, "this has been his best camp ever" in both, when really it's just that Manny has worked his hardest, too hard. He's clearly overdone it in his last two. He's not as young as he used to be.