Warren is in a tight race in MASSACHUSETTS... you think the DNC wants her to be their featured speaker to a nationwide audience when she isn't leading significantly in the nation's bluest state???
Good point. Giving the floor to Warren not only might hurt Obama, but it may backfire on herself and may help to introduce Senate Majority Leader Mitch McConnell in January. If Obama picks her, IMO, he would risk giving complete the Republicans a monopoly in the White House, both houses of Congress, and the Supreme Court with the probable retirement of Justice Ginsburg which, IMO, is likely to occur before the 2016 election.
If she does speak, tuck her way into an early afternoon time slot when no one will be watching.