It is more about Carroll and Chow not getting along. Carroll has a lot more to do with the USC offense than many people think. Chow's first year at USC was sorta disaster as OC and in the offseason Carroll put in his 2 cents and changed it up. USC offense was not good Chow's first year. Partly due to players and Chow's plays. Some USC fans wanted Chow OUT!
Rest is history. Yet when people talk about USC and their explosive offense, they talk about Chow and Carroll is given little credit for the success of USC. It is Carroll who has USC on top. How come USC defense never gets the respect it deserves? Carroll wants a more balanced offense and Chow does not really like to be told what to do. Then you have Chow trying to interview for HC jobs and messing up what Carroll is trying to do at USC. Carroll wants his coaches promoted but it has gotten ridiculous with Chow. He talks about leaving and interviews with Stanford the week of USC's rival game against UCLA. Its become a distraction. So Carroll wants Chow to be promoted and happy but he also wants to prepare for the future. So he stripped Chow being OC for next season and makes him assistant HC. Carroll wants to bring in 2 young guys to start preparing for OC duties and have Chow look over everything. Then when Chow leaves everything will be a smooth transition. Chow was hurt and unhappy with that. Carroll has to do whats best for the program.
As for Stanford. Chow really really wanted the Stanford job. He interviewed and did not interview real well. Sorta stuck up. He told Stanford AD he was the main reason USC was on top etc. Well guess what? The Stanford AD played or coached at Pacific, same college where Carroll coached or played at. Then you have Harriss who interviewed for Stanford job who also played or coached at Pacific. So all 3 are close and from Pacific. The AD from Stanford told PC what Chow said in interview and Carroll was not real happy. That said, Carroll said if you are taking Chow I will take Harriss as my OC for USC. Carroll and Harris are good friends. Remember, as an OC at USC Carroll could offer 500k+. The AD decided to go with Harriss who interviewed well AND also came from Pacific. Thats how it all shook out.
Chow has turned down HC jobs (ex. Kentucky) but Chow wants to take over a solid program.
As for the Titans job Chow might and prob. will take it. HC Fisher from Titans is a USC grad/coach. He did not want to hurt USC recruiting so he said he would wait until after signing day to offer/talk to Chow. Carroll still likes and wants Chow at USC but he won't be upset or hold back Chow if he wants to leave. I think it all boils down to Carroll wanting Chow to stay at USC or to leave. One of the other. Not keep interviewing and keep distractions at USC.
I think it is 50/50 on Chow coming back at USC. USC is so loaded with talent on offense it won't matter too much with/without Chow. Although the 2 replacements I am hearing are very very inexperienced. So who knows what will be done. USC 100% would have suffered "last" season without Chow.
As for my opinion I would not hire Chow as HC. He is not HC material. He is not a great recruiter and does not like to speak publicly. He has awesome track record and is the best OC in CFB. He should stay as OC. If Chow were to leave as HC, it will be imperative he goes to a program that easily can sell itself and he must surround himself with hard working assistants who will go out and recruit.