The suggestion was that they'd be looking to run a [probably moderate] conservative-leaning candidate to draw votes from Romney, such that Obama wins.
I now think it's more probable that this is a false flag operation and Obama will use the war with Iran to attempt to stay in office one of two ways.
First, can he do an end run around the election -- kill the election for national security reasons or postpone it while we're at war? And second, the people will not want to change horses in midstream while we are at war. They may not want to take a chance on a new guy. It could push Obama over the top.
Is there any relevant law?