LUBBOCK, Texas—Colt McCoy stood in stunned disbelief: Texas’ run at No. 1 was done.

Battered and bloodied—a hard hit in the third quarter split McCoy’s lip and he was spitting out blood on the sideline—the quarterback had dragged Texas back from a 19-point deficit to take the lead with 89 seconds left against Texas Tech.

Eighty-eight seconds later, the Red Raiders scored the game-winning touchdown on a spectacular pass and the Longhorns were no longer undefeated after a 39-33 defeat.

After three impressive wins over Oklahoma, Missouri and Oklahoma State, Tex...

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