I would guess UW thinks they missed on their evaluation. They did not spend very much time recruiting Paul, and now he has developed into a kid who is definitely a high major player. That said, I would still think they would be pursuing other sorts of players, bigger forwards like Jarrod Uthoff. Duje Dukan comes in pretty highly regarded and is a similar type of player as Paul.
For MU, you would know better than I, but perhaps they don't think he fits into their style of play? You can never have enough shooters though.
Hopefully Paul finds a place that he is happy with. It would also be nice if it was a school where he is not going to burn UW (e.g. Minnesota) or MU (e.g. Notre Dame).
Here's a little more on Paul's play from yesterday:
"PAUL JESPERSON – 6’6” – SG – 2011 – WISCONSIN PLAYMAKERS
One of the most coveted perimeter shooting talents in the country, Jesperson continues to see his stock soar and anyone questioning his ability to score the basketball need only have witnessed his 30 point 8 trey ball effort where he almost single handedly defeated the powerful Atlanta Celtics by himself. In a lethal display of perimeter shooting it was Jesperson who left the crowd buzzing as he showed range and an ability to score the basketball in a variety of ways that was only stopped due to the depth and athleticism of the Celtics who survived in the end."
http://www.ny2lasports.com/article_one.aspx?articleid=576