They won't do it under the bright lights, because it will look like we are caving.
It won't involve a wholesale reversal on principles. At least not right now. My crystal ball does not extend too far in the future (Or actually exist).
But I could see a rewording that omits the problematic passages. The church itself seems to be trying to walk the line in adhering to its values without being perceived as anti-gay. I would expect some more things to evolve.
We will never be the darlings of liberal academia on this issue, I'd wager, but we can position ourselves to not be a toxic entity to potential conference suitors either.
For those who think no way, no how, we have pivoted significantly on social issues before. It would be much less of a change for us to address the specific line or two of the honor code that clipped BYU during the big 12 expansion.