If they picked him up now, they'd have to keep him on the 53-man roster without watching him practice even once.
He couldn't play or practice before the final cut due to the stupid new CBA, but I think we could have signed him, then cut him on Friday and put him on the practice squad. I kinda hope your right though, it would be the only reason I can think of for us not signing him...other than we just don't want him. I guess we'll have to wait and see if we sign him to the practice squad on Friday. If not, then it's safe to assume Schiano knows something we don't and he just isn't a good fit.