"The Texas-Oklahoma football game is as much a part of the State Fair of Texas as corny dogs and Big Tex. There is a very real chance, however, that Texas and OU could be playing their last game at the Cotton Bowl in 2007 before taking their Red River rivalry back to the campuses. " - The Dallas Morning News
I think there is a significant chance the game may go back to Austin and Norman. First and foremost, I believe UT thinks that they could have beaten OU over the last five years - at least a couple of times - if they could have only played the game at home instead of a neutral site. Their desire to win trumps any loyality to the Cotton Bowl. (I'm not sure I blame them).
But don't rule out the game being moved to the new Cowboy's stadium in Arlington.