Just to let me down.
"We are disappointed to announce today that the Big Ten Pac-12 strategic collaboration announced jointly in December 2011 unfortunately will not be consummated. We recently learned from Pac-12 Commissioner Larry Scott that the complications associated with coordinating a non-conference football schedule for 24 teams across two conferences proved to be too difficult. Those complications, among other things, included the Pac-12's nine-game conference schedule and previous non-conference commitments." - Jim Delaney
The MSU/Oregon games in 2014/2015 were not part of this agreement, which was scheduled to start in 2017 across all sports. So I would imagine they're still on. I have put in a request for confirmation from MSU.
Update: MSU confirmed the games are still scheduled and were not part of the conference agreement.
Adam Rittenberg at ESPN.com reports that at least four Pac-12 schools didn't like the mandatory scheduling, along with their nine-game conference schedule. The Pac-12 jumped the gun and got a little too excited without making sure everyone was all-in. You have to save some room for games against WAC and MAC schools, you know? I do wonder if this means the Big Ten will look at a nine-game conference schedule again.
So while the "Really wanted to see Minnesota/Washington State" jokes come out, this appeared to be conferences finally stepping up for the fans. In the end, it's just another letdown.