I mainly watch the show to see how they mess stuff up. Usually their tests involving weapons are flawed. They are special effects gurus that have run out of FX stuff to do.

Very Fast reaction time to grasp something is around 100ms. Therefore, a person would need about 26.5 ft (Just shy of 9 yds) to even have a chance at catching the arrow. More than likely though is that you would probably need double that or even triple to have a chance.