If you were the Bills, what would you do if the rumor was true? I can tell you right now I'd cut him. He would have had chance after chance, and wouldn't have seemed to care about bettering himself, for the opportunity to play in the NFL, and to not let his team down by getting in trouble and then suspended. He was a 1st round pick, but I'd go into the season with Jackson and Rhodes without hesitation. I think his lack of care is blatant disrespect for the franchise, and it would be an embarrassment to let him keep doing this while you turn the other cheek.
Of course, this is all a rumor and is a long shot, but that's how I'd feel if it were true.