Unless there's a smoking gun laying around or Bush wanted to rat out the University, the NCAA will have a tough time proving that USC knew anything about the relationship, Without proof it looks as if the only wrongdoer was Bush, meaning they would have no grounds to punish USC.
The fact that USC declined to attend the meeting indicates to me that they had no knowledge of the illegal activity. If they knew something and it could be proved, they'd already be falling all over themselves with proposed self-sanctions.
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I can't find the original article Yahoo Sports did on the Bush incident, but I believe they uncovered proof that USC allowed these agent in the locker rooms and on the sidelines. That is, at a minimum, Failure to Monitor, really more like LOIC. Anyone still have the original article?