I don't think it's out of the realm of possibility at all that 1 or 2 SEC schools may not be all that thrilled with the way things are playing out. I think once the cold hard reality hits that while the SEC network will be lucrative, it will be no more lucrative and potentially less lucrative than the Tier I/II conference/Tier III school scenario you have in the Big 12.
It would not surprise me in the least to hear that a school like LSU called an asked some questions of the Big 12, the same with Arkansas. If they move, they bring the entire state with them. When that happens, you potentially get a "re-look" at the ESPN/FOX deal, and they get to go out and forge their own lucrative Tier III deal. They immediately create the need for a Big 12 Championship game (more money) and create a balanced conference with just two divisions and no whacked out scheduling scenarios, and within their likely division the traveling is very easy. For Arkansas it would be extremely easy.
Probably not going to happen, but again, not that crazy to think about.