From Pre-Snap Read: http://www.presnapread.com/whats-a-blue-shirt-anyway/
To me, it doesn't seem like that big of a deal, since the team still has to count those scholarships somewhere. It's only an advantage for a year, and it seems like it will mostly be useful for schools (like Michigan) recovering from massive attrition, and need a bigger-than-allowed class. Still, I can see how Alabama, LSU et. al will find a way to abuse it, and hopefully the NCAA will close the loophole soon.
What do you think?
Off-topic, but M-OSU 2006 is on BTN right now. It's almost halftime. If you haven't yelled at Crable to pull up recently, you have another chance.