I don't know how the Texas schools feel about all this, but speaking as an alum of one of Big 12 North schools (KU) living in Kansas City, I am glad to see this outcome. The thought of KU, Mizzou and K-State (all of whom have strong fan bases in KC) winding up in different conferences was depressing to say the least (as was the thought of losing the Big 12 bball tourney, which will be in KC for three years running).
It is rather interesting how (in the short run anyway), a school can make more with 10 versus 12. At the end of the day, we don't lose much in terms of sports tradition (no change in bball, sorry to see NU go in fball, and w/c about CU).