Ok. Pretty sure I'm going to be rightfully pilloried for this post (fastest post ever to -1000 points, etc.), but I thought it was worth adding to the discussion...
I have a source who is extremely well connected within the Stanford Administration. He was chatting with the University president recently and relayed this to piece of news:
Stanford has been acutely aware of the RR situation and was not willing to watch its hot young coach get poached. As such, they offered JH a contract extension this week (on top of the one he signed last year). Harbaugh signed the extension this week. The extension likely has a much higher buyout clause than previous one. This story has not leaked to the press and may not for a while. Stanford, as a private institution, is not required to report on any dealings with its employees.
I doubt this has anything to do with RR's job status. I read it as Stanford simply being proactive in protecting its coach. What I do think it means is that JH is highly unlikely to come to Michigan.
I recognize that alot of people will think this is useless rumor mongering. Take it FWIW, but I think its plausible that Stanford (which frankly has much deeper pockets overall than Michigan) was not going to simply let another coach walk away after one good season.