I guess it makes sense, if Texas stays with the Big 12, the Big 12 will keep its status as a BCS conference. If the Big 12 folds, the MWC is in great position to take the Big 12's BCS conference status. But Texas seems to have kept things stable for the moment at least.
There's no way that the PAC-10 will get two automatic BCS bids. If they want to BCS bids, then break up into two conferences. They will be no more deserving of two automatic BCS bids than will any other division in D-I football. The BCS won't let them have it, as the Big Ten, ACC and SEC would immediately demand the same thing.