Earlier Treviso had put themselves into a strong position thanks to tries from Enrico Ceccato and Alberto di Bernardo, as well as 13 points from the boot of Kris Burton.
It's not the first time Treviso have been stung late on, having conceded a last-minute penalty to draw with the Ospreys in the Heineken Cup, and with the Welsh side next up, Pavanello is eager to put the frustration of those late losses behind him.
"On the one hand we should be satisfied, but on the other not. Ulster are one of the best teams in the league, and in Europe," said Pavanello.
"We put them under pressure going forward in defence and attack, winning the collisions, keeping hold of the ball and making sure they had very little possession. But then we lost, it was our Waterloo.
"The regrets are huge, like against the Ospreys. From a rugby point of view there are some positives but now we just need to lick our wounds and get on with it.
"We have four important games left which we will be taking one at a time, starting with the game against the Ospreys on Friday, where we want to be at our best."
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