I think the part is too small for her but then again, maybe she'd enjoy playing the bad guy for once... I also think she might want to do it just for fun... she's had many many big parts in the past so maybe it's not what she's after anymore.
That said, I think it's nothing more than a rumor. If it were true, the Wiked Media Machine would already spinning it on every Broadway site from Playbill to BroadwayWorld... I mean, every time I hear about that thing, the 'source' is 'another forum'!
With all the promo that Universal has been doing for the show (photo spread in Elle Girl, Wicked Day, Singing Contest), I think the Wicked machine might be slowing down a tad and I could see the added promotional value for the show, just by the number of people on this thread who admitted they'do go see it if she was in the part... Maybe they are trying to attract a more mature audience (no offense to the Wicked fans) because the shows are not completely booked from floor to ceiling 3 months in advance anymore and they're trying to prevent the decline of one of the biggest money machine on Broadway in some time.
I'm not saying it's just a money machine... but I think it's pretty obvious that Universal sees it that way. So... maybe they floated a balloon in forums to gauge audience's reactions to the news before they made a firm engagement with Liza, or maybe it really is just a rumor. Anyway, if it is, it's an interesting one for a change, better than the rumors about love/hate among the cast and other behind the scene junk publicity.
just my pocket change.
"What book of rules says that theatre exists only within some ugly buildings crowded into one square-mile of New York City? Wherever there's magic and make-believe and an audience, there's theatre..."