Why would Texas be upset? They only care about themselves. They can just replace those two with BYU and UL and have an easier path to the BCS. And they can get as many games for TLN as they want. Then for TV they can control the money. Who the hell is going to oppose them? No one wants any of those other teams. So after Texas takes what they want out of the pot, the others split the scraps. They can't say no because if they do, then Texas is gone. Gives Texas an excuse to leave behind Baylor, TCU, and Texas Tech.
If this does happen I want the ACC to offer RU. I think that is the only shot that the ACC has at getting ND. If RU is off the table then the B1G will have one Eastern FB team in PSU, and have no one else to add. How can ND be a national team if they play 9 B1G games a year, USC, Stanford, and Navy? That means they have at best 1 Eastern game a year. So the ACC can give ND a choice to be #16 in an Eastern conf or the ACC moves on. That being said I still think ND ends up in the B1G with Texas. That will get the B1G to 14 and they could stop if RU is gone. maybe they go to 16 with KU and ISU, but I think that is unlikely. The ACC would then have to choose between UConn and WV as #16. IMO having a 16 team ACC with RU and WV is better than having a 16 team ACC with WV and UConn, while RU is in the B1G.
I still think we won't see 4 SCs though. Only way P12 expands is if Texas comes. And if that happens then there is no way the B1G gets to 16.