Khan was at the level where he could instantly analyze a skill's properties, especially when he had seen something similar in the past.
The ability the King had used to stop the two lightning bolts could appear connected to the True Chaos' annihilating powers. After all, it shared many of its troublesome properties.
Nevertheless, Khan crossed that off, finding even more similarities with what the taller scout had used against him. The all-devouring ellipses the alien had used to block his spells seemed to be at play there, only on a far larger and powerful scale.
The King himself was the all-devouring spell. The lightning bolts had slowed down and shrunk as if attempting to cross distorted space that was governed by unique laws of physics.
Then, after absorbing Khan's spells, the King dismantled them inside his own being, turning them into pure energy he could use.