All the bylaws state that if a conference wants to hold a championship game in football then it must satisfy 1 or 2 options.

Option 1: 2 divisions as evenly divided as possible where both divisions play a round robin schedule.

or

Option 2: A conference with fewer than 12 members or a conference without divisions must play a round robin conference schedule before it can select 2 teams using whatever criteria to play in the game.

Option 1 doesn't care if the divisions are fixed or rotate every X number of years. They just have to be defined in some way for each year the conference championship game is played. That is why the WAC didn't violate the bylaws when it decided to rotate 2 quads every 2 years.