I think everyone needs to step back from the ledge. Take a deep breath and think rationally for just a little bit.
There haven't been any conference moves that didn't make sense up to this point. OU/OSU to the Pac 12 would be the first totally illogical move.
Colorado is a better fit in the Pac 12 than the Big 12. They were the only team outside of our timezone and they have more of a Pac 12 feel to them. Utah is a good fit as well. OU and OSU are not good fits geographically, academically, or culturally. I say that does not happen, no way. The Pac 12 teams have said they don't want OU/OSU. The commish who I admit, can't be trusted, says he doesn't want more expansion. I guarantee UofA and ASU don't want to play OU/OSU every season and I would bet no one wants to have to go through OU to make it to a national championship game. That move makes no sense for anyone. Forget TV revenue. That is overblown. Every single school, especially OU/OSU will incur increased travel costs and wear and tear on their student athletes. This effects a lot more than football and I know everyone is focusing on that, but it is NOT the only factor.
The Big XII has a built in AQ, built in TV contracts, and allows it's members to have their own network. There is no sweeter place to be for a school with a national following such as BYU, Notre Dame, OU, UT, etc. We have a TON to offer other schools that no other conference does.
Let's look at geography. Outside of TCU going to the Big East (which in my opinion was done only to add validity to the Big East as a football conference and from TCU's perspective, they would have preferred the Big 12 but just wanted an AQ conf.) there haven't been any conference moves that don't make geographical sense. I don't think these schools are so stupid that geography isn't a major factor. What did the B1G say? We won't expand to a state that isn't attached to an existing B1G state. There is a reason for this and it's the same reason that will keep FSU from joining the Big 12 or UT from joining the ACC. It just doesn't make any sense.
If we drop all of the emotion and look at what has happened, it really isn't much. CU and Utah to the Pac 12 which makes a lot of sense. NU to the B1G, also makes sense as does aTm to the SEC.
If OU and/or OSU go to the Pac 12 or UT goes to the ACC and some of the forgotten 5 join the Big East then people are truly nuts. No one wins in that scenario from any perspective. Student athletes lose, fans that want to see away games, university travel budgets increase, existing rivalries die, etc.
Once again, in my opinion, this is nothing more than media hype. The Big XII has too much to offer to die. MU coming out and saying there is a legal basis for the league to continue gives a stronger argument that it will not die. UT has said they want it to remain. T Boone saying it's not dead. ISU, KU, KSU, Baylor, MU all wanting it to exist.
The Big XII will be fine.