I don't have any problems with LSU being ranked ahead of OU at this point as they have actually beaten some ranked teams ( well at the time those teams were ranked ) and beating UGA was huge for them. Now the fall of UGA in the polls could be expected by these SEC pollsters in the AP. They have shown over time that they do not drop SEC teams for a loss in the same way as they drop others.
In the end though this poll just like the coaches poll mean nothing outside of getting us fans to talk. What will be interesting though is when the CFP poll is released and say LSU drops another game before then while UGA just squeezes by it's opponents how they will view those teams. Right now the top 4 is a no brainer and if those teams keep winning that will be the playoffs. I do wonder though where OU would be setting at this point had they not lost to Texas.