I wouldn't count the Liberals out quite so quickly. I believe there are many in Victoria who appreciate the party that doesn't react by dogma to every situation. They supported David Anderson for many years. Electing a Liberal would send an interesting message, and it would garner much more attention than if an NDP or Conservative were elected.
I can't imagine any provincial NDP MLA's making the move. They're all salivating waiting to take over the reigns of government in BC. But from the municipal level...could be.
David Anderson was at the right place at the right time. Reform was too right wing and the NDP voters flocked to him in 1993, 97 and 2000 to vote for Anderson to stop the right. In 2004 the conservatives in town were scared to death of the idea of David Turner winning for the NDP and Anderson got a good chunk of right wing vote in that election.
The Liberals are polling badly in BC right now, in the mid teens and barely in front of the Greens.
The Liberals would then have to find a strong candidate and short of Frank Leonard wanting to run as a Liberal I can not think of anyone with enough standing for the party to have any impact on the election.
Historically over the last 40 years the Liberals are clearly the #3 party in this riding. Their danger now is becoming the #4 party.