I don't think OSU would jump into the Top 4. If the playoff committee thinks their body of work currently only justifies a #11 ranking now, does a conference championship (without a CCG) and one win over the #3 team push them up 7 spots?
The only way I could see OSU getting in is if Notre Dame, Alabama, or Clemson lose, but even then the playoff committee wanted to send a message last year and I don't think that message has changed.