The Vest is hanging out in Indy this year to acclimate himself the pro game. And Irsay is probably going to be able to get rid of his head coach since they don't have Peyton Manning for enough games to make it look even worse than it is. I've seen way too many "oh this means absolutely nothing" deals like this in the pros to believe that Tressel is just there to help the team with replay challenges.
I'd say that in likelyhood Jim "the Tat" Tressel won't get back to coaching in college for a long, long time.