Even with the loss, I personally think TCU should be in over Alabama. One less loss and, common opponent, at Texas, Bama needed a FG at the buzzer to win while TCU led most of the game and, while it was a one-score game, beat Texas a little more handily.
That being said, unfortunately, I'm almost positive the decision makers will put Bama in. I bet they are salivating over a Georgia/Bama & Michigan/Ohio St playoff.