The Broncos aren't running the 'option' its just some zone read plays out of the spread (when Tebow does run it) but primarily a power running game. FWIW our offense is the college spread, just without the zone read bc our QB isnt a runner. Turn on any Big 12 team or Nevada, among others, and its essentially the same O the Bills run. The Packers and Pats run the same routes for the most part. Its a very simple idea that has worked for years. Spead the field horizontally, get guys into windows, etc.
Tebow is executing the running part of the O just no the passing part.