Well, the deed is done. Dan Beebe, the Big 12-2 commissioner, was able to sell the University of Texas an 11th hour and 59th minute TV deal/bribe/payola scheme to secure the Longhorns place in the conference and preserve it at ten teams. The most striking part of the new TV deal, which is still being worked on, is the ability for schools, like the Longhorns, to create their own networks(Say hi to LonghornTV in a few years). Texas is said to have the opprotunity to make as much a $5 million a year within a few years. Oklahoma and Texas A&M are also expected to reap in more TV cash, as much as $20 million annually. One major loss, is the loss of the conference championship game in football. It's unlikely the NCAA will allow for a ten-team league to have such a contest, even if it would be held at JerryWorld. Losing Nebraska to the Big Ten+2 and Colorado to the Pacific-10+1 will do that to you.
What does this mean for superexpansion? Texas' move probably stops it dead in it's tracks for now, but it could all change. The SEC, for instance, could still court Texas A&M for it's league, but the Aggies are likely to say no. But if they do(and the SEC goes all-out to raid the ACC as well), it could once again leave the Longhorns making a phone call to Larry Scott of the Pacific-11 to join Colorado(and possibly Utah, whom the Pac-11 will now covet).
UPDATE: Both Oklahoma and Texas A&M have reversed course and will stay in the Big 12-2.