Texas had one lead in that game, 10-7 from a long TD pass., and was behind the rest of the game after that. Texas would have had to have stopped LSU's offence in the 4th quarter to break serve and take the lead, and they never did. 3 possession by LSU, 3 TD's. It was a close exciting game, but barring some INT for TD, Texas never had a shot at it.
The concept of a "revenge" game is drastically oversold. If it was a driver, then Texas should be the odds on favorite most years against OU as OU has owned the series this century - 14 and 7 I believe. Yet they still keep on winning.
I belive the SEC cancelled all out of conference games for the early part of the season. We'll see if the later ones like Ga / Ga Tech and Florida/FSU play, but all the early ones were cancelled, and I don't think that was done just to avoid Texas / LSU.
All conferences hope to get 2 teams in the playoffs, it's just that the B12 often has a hard time having the runner up not have 3-4 losses, same (or worse) with the ACC.
It would have been a great game, and a true early test on how good this Texas team is - lots of Yeah!!! after the first game, but UTEP was both a hired chump, and terrible to boot. Not a good indicator of how good Texas will be. But it wasn't canceled due to some Machiavellian scheme by the SEC.