Kristen Anderson-Lopez and Robert Lopez
Larsen & Talbert for People.com
03/15/2014 at 06:00 PM EDT
It was the flub heard around the world.
When John Travolta
's Idina Menzel
as "the Wicked
ly talented Adele Dazeem
" at the Academy Awards on March 2, there were two people in the audience who may have been more distraught about the mistake
than Travolta and Menzel combined – Oscar-winning "Let It Go" songwriters Kristen Anderson-Lopez and Robert Lopez.
"My heart just sank," Anderson-Lopez tells PEOPLE. "I just grabbed [my husband]'s hand."
And the songwriting couple was not alone in their distress.
"We were sitting next to the president of music at Disney and he just went, 'Oh
,' " says Lopez. "I don't know if you can print an inflection but it was amazing and it just encompassed all the anxiety that we collectively felt at that moment."
But despite the hiccup, Anderson-Lopez thinks Menzel gave a performance
character Elsa would be proud of.
"But I thought she exactly encompassed what that song is about in that moment. She decided not to let someone else control her power and she just let it out and sang the s––– out of that song," Anderson-Lopez says.
And the couple is happy to laugh at the flub along with the rest of the world. They've even used the Adele Dazeem Name Generator
"Mine is Kieren Alexernder," says Anderson-Lopez. Adds Lopez: "It told me my last name was Lopeez. Not as exciting."
is available on Blu-Ray/DVD March 18.