Apparently top folks at the White House think this is really going to happen. It doesn't make any sense. Huntsman, while a conservative Republican, also seems to be not crazy and the kind of guy who had no problem working for his country as an ambassador even for the opposition party. In other words, an old fashioned sane Republican.
As last year showed us, sane is not "in" with the current edition of the GOP. If you haven't played Tea Party cosplay while demanding Obama's birth certificate, the current GOP likely views you as a moderate squish at best. Even people like Newt Gingrich are likely to have a problem with this crowd, and he's nuts.