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According to the Vegas odds, Louisville's loss to Clemson did nothing to Lamar Jackson's Heisman Trophy odds. Also, the Cards' odds to win the national title weren't dropped nearly as significantly as you might have thought.
From Bovada:
Odds to Win the 2017 CFP National Championship
Team 9/26/16 Current Odds (10/3/16)
Alabama 3/1 3/1
Clemson 11/2 7/2
Ohio State 4/1 7/2
Washington 14/1 15/2
Houston 14/1 10/1
Louisville 11/2 10/1
Michigan 9/1 10/1
Texas A&M 25/1 20/1
Tennessee 22/1 25/1
Florida 28/1 33/1
Miami Florida 40/1 33/1
Nebraska 50/1 50/1
Arkansas 66/1 66/1
Mississippi 66/1 66/1
Baylor 50/1 66/1
North Carolina 100/1 75/1
Wisconsin 40/1 75/1
Boise State 100/1 100/1
Colorado Off the Board 150/1
Florida State 22/1 100/1
Oklahoma 75/1 100/1
Stanford 25/1 100/1
Utah 75/1 150/1
West Virginia Off the Board 150/1
Georgia 100/1 Off the Board
Iowa 50/1 Off the Board
Texas 50/1 Off the Board
TCU 50/1 Off the Board
Odds to win the 2016 Heisman Trophy
Player 9/26/16 Current Odds (10/3/16)
Lamar Jackson (QB Louisville) 2/5 2/5
Deshaun Watson (QB Clemson) 9/1 5/1
JT Barrett (QB Ohio State) 7/1 7/1
Christian McCaffrey (RB Stanford) 7/1 12/1
Greg Ward Jr. (QB Houston) 28/1 16/1
Dalvin Cook (RB Florida State) 33/1 25/1
Josh Dobbs (QB Tennessee) Off the Board 25/1
Jabrill Peppers (S Michigan) 16/1 33/1
Mitch Trubisky (QB North Carolina) Off the Board 33/1
Jalen Hurts (QB Alabama) 40/1 66/1
Jake Browning (QB Washington) 100/1 Off the Board
Leonard Fournette (RB LSU) 33/1 Off the Board
Patrick Mahomes (QB Texas Tech) 33/1 Off the Board
Donnel Pumphrey (RB SDSU) 25/1 Off the Board