I have admittedly not followed the formula they use for some time.
However....
RPI 16
25-4 record
10-0 in last 10 (actually 19 straight wins)
4 wins against Top 50 (of the three teams in my example, Humboldt St. had 2, E. New Mexico had 4 and Mercy had 3)
Conference Regular Season and Tournament Champions (Humboldt St. didn't even make the Conf Champ Game)
I can't think of any conceivable reason my team is seeded so low, especially with those.