In hindsight, I think the Big 12 realizes that they made a mistake with WVU. They haven't lived up, in a competitive measure, to what the Big 12 wanted and they don't really bring any extra money to the conference. Most realize the Big 12 made a huge mistake by inviting WVU rather than Louisville.

More to the point, WVU's wants and needs are, in many ways, different than other teams in the conference -- giving WVU little power in the conference. While the other teams will definitely consider WVU's wants, politically WVU is an outlier. There are basically two power groups in the Big 12 -- the Texas schools, with Texas having a lot of power, and then the "North schools" (Kansas, K State, Iowa State) forming another group.

Oklahoma State and Oklahoma are, to some degree, Independents. Oklahoma has ties with the Longhorns, they are the two power schools in the Big 12, additionally, Oklahoma does a lot of Texas recruiting and their rivalry with Texas helps recruiting. So, UT and Oklahoma have a lot of common goals. OTOH, Oklahoma doesn't want Texas having too much power, so they will take the opposite stance on some issues that may give Texas more power. Oklahoma State, not being a power school, still sides with Oklahoma much of the time because of common needs/goals, but they also will sometimes side with the North schools -- the non-power schools. But the fact that Oklahoma, and by extension OSU, votes with Texas so much of the time is part of what gives Texas "controlling power" in the conference.

At least one of the other issues is how all the schools recruit in Texas, which put the North Division schools at a disadvantage while there were 12, as they weren't playing in Texas as much as the South schools. I suspect, if the Big 12 splits into divisions again, you'll see an East/West split, with the Texas schools evenly divided between the two divisions. This could also be good news for BYU, as it would keep travel issues from being as large a factor, since WVU and BYU would be in different divisions.