Of course this is all just talk now because neither are declared candidates.
I assume you mean for the Texas governor's position. Not being from Texas, I have no idea what the other choices might have been, but it makes perfect sense for Palin to endorse someone for governor (she is looking for allies who can support her in their state....see Nikki Hailey). This obviously means precisely zero if said governor decides to run against her for president. I suspect Palin also endorsed Bachmann in HER latest race.