EDIT- Here's a link:
Sagarin is a little whack this year, but this is part of the BCS formula. I think the important thing we are ranked ahead of Michigan State. This is probably a good thing. The TA&M/Texas/Missouri silliness shouldn't matter - the voters will take care of that. He also has USC ranked, and they're not eligible.
EDIT 2: As a few people have pointed out, the BCS only uses the ELO_CHESS Sagarin rankings. Those have us at 23rd. Please do not panic. Sagarin is only one of six computer polls used by the BCS. This amounts to 1/18th of the final ranking.
I have taken down the ranking to avert panic. Remain calm. Repeat: remain calm.