Here is why:
1. Just as stated below in the other thread relating to the Arizona Rivals board, all the Pac has to do right now is invite Colorado and the Texas legistlature has lost any chance of getting a leg up.
From what we are hearing, Nebraska is on the clock to choose to stay in the Big 12 or move to the Big 10, based on either scenario, logic also shows Colorado should be in good standing.
2. Nebraska decides to stay and the Big 12 stays essentially intact, in that case CU stays relatively comfortable in the Big 12 or still gets an invite from the Pac to join. Basically a win in either case.
3. Nebraska decides to go the Big 10. Texas now has to choose between the Big 10 and the Pac 10 or possibly the SEC. They have now lost all of their bargaining power because they HAVE to go somewhere. The Big 10 is certainly not going to take Baylor, nor do I see the SEC doing so either. The Pac 10 has already shown they don't want Baylor, and if Texas wants to come it will now be on the Pac 10's terms, meaning no Baylor.
Basically no matter how this turns out, while Texas may be the crown jewel of expansion right now, they just don't have the bargaining power to force a 4 team deal on anybody right now.