That's what I'm referring to, as far as the tone of the article. My understanding is that this is a joint decision between Rice and the team - the wording I've seen is more in the vein of "The Vikings may decide to IR him", which I take to be partly for his health and future, but also to protect their investment in him. Given what he brought to the team last year, I'd be a bit surprised if they didn't intend to re-up on his contract, assuming the demands aren't ridiculous. He and Harvin make a very good WR combo.
And as to your last point, again, there's reason for the Vikings to put him on the shelf - if he ends up not playing all season, he becomes a question mark, and thus less likely to incur a massive bidding war. Cheaper to bring him back.
Now, the guy could be a total douche - I don't know him, and since he's a Viking I wouldn't root for him even if I did. But he sure as hell wasn't acting like one last year and prior. I live in Minneapolis, and he was easily one of the more visible and dedicated Vikings in terms of charity and community outreach. Even if he is just a jerk, there are plenty of reasons that the team could also want him on the shelf if he's not going to be ready enough to contribute soon.