Q: Doesn't the Texas Constitution reserve the right of Texas to secede?
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A: This heavily popularized bit of Texas folklore finds no corroboration where it counts: No such provision is found in the current Texas Constitution (adopted in 1876) or the terms of annexation. However, it does state (in Article 1, Section 1) that "Texas is a free and independent State, subject only to the Constitution of the United States..." (note that it does not state "...subject to the President of the United States..." or "...subject to the Congress of the United States..." or "...subject to the collective will of one or more of the other States...")
Neither the Texas Constitution, nor the Constitution of the united States, explicitly or implicitly disallows the secession of Texas (or any other "free and independent State") from the United States. Joining the "Union" was ever and always voluntary, rendering voluntary withdrawal an equally lawful and viable option (regardless of what any self-appointed academic, media, or government "experts"—including Abraham Lincoln himself—may have ever said).
Both the original (1836) and the current (1876) Texas Constitutions also state that "All political power is inherent in the people ... they have at all times the inalienable right to alter their government in such manner as they might think proper."
Likewise, each of the united States is "united" with the others explicitly on the principle that "governments derive their just powers from the consent of the governed" and "whenever any form of government becomes destructive to these ends [i.e., protecting life, liberty, and property], it is the right of the people to alter or to abolish it, and to institute new government" and "when a long train of abuses and usurpations...evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards for their future security." 
Pole, I have no doubt that if things get bad enough, Texas and probably others woulld exercise their legal right to secession. They would do so peaceably. If the socialists keep pushing for their New World Order, a ridiculous dream that nobody ever talks about, it could be a catalyst. If anyone doubts socialism's intenttions towards a New World Order (aka one world government) check the back of the dollar bill. The words New World Order are there in Latin, placed there by the socialist Franklin D. Roosevelt in 1935. Yes, it has been in the works for years. Talk about rich elite Republicans, better worry about the rich elite Democrats.