I'm going to start with the 800 pound gorilla in the room. If WSU is undefeated on Selection Sunday - the predictors have that up to about a 5% chance by now - so there is a chance.
If WSU is 34-0 going into Selection Sunday, they have one other thing going for them. F4 last year. The Selection Committee would be hard pressed to not give a #1 seed to a team that made the F4 the previous year and was 34-0 the current year.
One of the more interesting things that would happen if the Shox did hit that unthinkable 34-0 mark is the wailing and gnashing of teeth among the power conferences and those who think only the power conferences actually matter. Seeing another intruder into their little party would give them apoplexy. Then there would be those just wanting to bust the chops of the power conference crowd. The war of media articles would be rather entertaining.
If we're looking at several 1-2, maybe 3, loss Michigan State and Syracuse's of the world then I'd say they get bumped. I find it very unlikely that happens though considering who they will be playing on a weekly basis.