Logistically, CordeValle would probably be one of the only logical places for the US Women's Open in the region. The other venues mentioned might be better golf courses, but don't have the space, infrastructure, or desire to host the tournament. I think Pasatiempo would be a great course for the ladies, but that would be a challenge getting people in and out of, and the membership probably doesn't have interest in it anyway.
Sam, John Fry is hoping to get the tournament moved to The Institute, his super-private golf course on the other side of Highway 101. There have been permit issues regarding the clubhouse, and the golf course was essentially illegally built by Fry. They had not even begun construction on the clubhouse as of late last year. I know that they were hoping to have everything ready to go for the Fry's.com there by 2016 though.
Joel, I do agree that the mounding does look artificial, but not sure if it's worse than seeing cart paths everywhere. And without those mounds, there would be cart paths visible everywhere.
I actually liked the course a lot better the second time I played it. I walked it the second time, and didn't feel like it was an extreme challenge to do so. It is a pretty good resort course, but certainly no marvel of architecture. That being said, it could make for a solid, if not spectacular, tournament host.