This is a player who really hit badly in the luck dept. I'm hopeful they can eventually work something out with him if he comes around and is competing at a high level. It would be good to see him contribute for us should we need him, and it would make for a pretty good story of redemption after a catastrophic compound fracture of his femur.
Not exercising the option was simply a sound business move, and says nothing about how this organization feels about Derek Sherrod. I'm sure they are wanting for his complete recovery and return to the Packers lineup.