Omaha 8/b can be a cruel game. My initial reactions to the hand: You maybe overplayed your hand(eventhough my hindsight is 20/20). You coldcalled a bet and a raise with the second nuts and a nut low draw(to which you could be quartered or worse). The Q on the turn lowers your high hand to the fourth-nuts(which technically could be tied at that point as well) and you still only have a nut low DRAW - then you pull the trigger after a bet and a raise in front of you(again). You are very likely beat here with a weak end of a boat and an unmade low. You were lucky not to have anyone out there with A2 and/or a better boat... but you did have position on the best hand - you two had him pinched - you were lucky there.
All that said, you did get very unlucky at the end to a one outer. And only you know what you were thinking as well as your reads on your buds hands, ets. But that really sucks - I've been there. I flopped quad 3's on a 3h 3s 4s board - the turn was a high card and the river was the 2s. My buddy rolls over his hand and says, "flush" and I say, "you hit a one-out-hogger... you have the steel wheel"(As 5s). Man did that suck, I made a low too so he could've only hit like 6 outs for half and one card for the hogger. Pisser was he didn't even realize he had a mortal lock on the whole pot and didn't raise me - then he tables his cards and I tell him what's-what. Only real bad beat of my life.
I'm no expert by a long shot, I just thought I'd share some thoughts for you to ponder and add a bad beat of my own in hopes of easing the pain.
One last thing, I can't remember the exact details, but I've read somewhere before that if the stacks are deep enough you would be correct to laydown and made nut low AND a made straight flush in that game... under the right conditions. Course, I can't remember the last time I laid down ANY nut hand in my home O/8 game, but we don't play that deep either.
Better luck next time Mr. Meaner.