Ultimately, I think OU has to be thinking "this thing is going to blow up eventually, why keep pouring our effort into a lost cause".
At least that is my read. Even if everything went to equal revenue sharing, UT still won't have a check for its power in the conference and history tells us that will lead to disaster.
The Big 12 is set up for failure. Whether it is now or later I can't be certain, but Texas will eventually destroy the conference, either directly or indirectly, due to its ego.
Not saying that Texas isn't clearly the most valuable asset in the Big 12, but whenever one member of a conference says "We're better than you and we deserve our own network & extra revenue to place us above everyone else in this terrible conference" there are going to be serious problems - real or perceived.