Get ready to rumble:
1) What if the government altered Title IX to exclude or alter football in the equation of women to men's sports scholarships?
2) Is it a possibility? Especially now that there is a record of serious efforts and achievements to comply.
I doubt it will ever change; even if the law itself is amended, it brings up too many other legal issues to stand for any length of time. Women's Basketball is exploding in popularity, and Softball isn't doing too badly either. The rise in Conference-specific networks will drive the need for additional inventory for live coverage. I'd like to see the NCAA push Gymnastics harder, as it does really well in the Southeast.
The much-ballyhooed efforts at compliance by adding or dropping sports are usually the result of an athletic department's decision that the sport is cheaper than the penalty for non-compliance. A rumor (or a not very well-kept secret) at Alabama when I was a student (1998-2002) was that UA was paying a fine of roughly $10,000 per year for not adding another women's sport. UA would eventually add Women's Crew a few years later.
What colleges and universities need to address is the increasingly female skew of their enrollment-get more men in college (and get them to finish), and any Title IX issues will take care of themselves.