Supercells are ongoing directly ahead of and northeast of the low from northwest of Amarillo into eastern Colorado. It appears initiation is imminent along the dryline to the south along and just east of an Amarillo-Lubbock-Midland line. Winds are backed ahead of this line, especially just to the east of Amarillo.
Given the amount of energy about to overspread the Panhandle and NW Texas, I suspect the window for discrete supercells may be growing smaller time-wise. However, the severe threat is by no means decreasing. Instead, it appears storms may organize into line segments and clusters earlier, later morphing into an MCS or two. If this happens, there'll still be embedded supercells and the potential for strong tornadoes, given the high amounts of low level shear and strong, backed low level flow setting up across the Red River Valley. I still believe the area of greatest risk is NW Texas, from the edge of the Caprock to DFW, late this evening. The best area for discrete, tornado-producing supercells early on, however, will likely be in the eastern Texas Panhandle.
UPDATE (6:36 PM): Storms between AMA and LBB are still having trouble, but look to be fairly close to getting going. Lone supercell has formed just northwest of Abilene. Persistent supercell in the OK Panhandle with a history of producing large tornadoes continues to look great. New PDS Tornado Watch for NW Texas and points south and east. Threat to North Central TX later tonight may be increasing.