Bear with me.
Texas Tech has one current loss to an unranked Arizona State. They already beat BYU. If they lose to BYU, they become a 10-2 team like us and I think we have both better wins and better losses than they do. It wouldn't be unreasonable for them to slide down to #11 from #4.
"But the committee won't penalize a loss in a conference championship," I hear you saying. Under normal circumstances, I think you are right. However, the committee could argue that BYU and Texas Tech already played in the regular season and it is only the conference bylaws that put them together for a rematch in a conference championship. As such, they could say that this game doesn't get the special protections afforded normal conference championship games. [Yes, Alabama/Georgia is in the same boat but SEC gets special magical protections no one else gets. It just means more, you know?] Additionally, BYU avenges the regular season loss and ends with only one actual loss on their record; meaning they legitimately (via wins/losses record) should be in front of Texas Tech.
If I'm a committee member and Texas Tech takes a loss, I think it's worth evaluating dropping them out...
I know. I know. Wishful thinking.