I guess it all depends on the specifics of his due bonus--has it been paid, will they still be on the hook for the 2.2 if they get rid of him? I personally don't see any major added value by replacing him, no one is going to come in and do that much better of a job under 2.2. Maybe they let him go, and end up saving 1 million even by keeping someone else at 1.2 million, but then you'd have to argue about how much you lose in the player/position value by saving that 1 million dollars.
The point may be mute anyways, if he's already been paid the bonus, or if the team would still be on the hook--which they probably wouldn't. Those are important factors in determining what to do with Green, but I think it's a reasonable salary for what he's worth to the team. That's just my opinion. I think he's proven he knows the system well, and has stepped in for Seymour before quite well. He is a viable backup/rotational player, and it actually could be argued that he is maybe somewhat undervalued. All of this talk is because he's due his bonus, which he's probably earned, IMO. If not for the extra 2.2, he'd be quite a good value, especially when we're not sure about the future of Seymour. I personally hope Green stays.
As far as the 'game' that Peppers is playing, I personally feel he thought that there would be more inquisitions for him, and since there haven't been, he's somewhat 'stuck' and surprised. I still think it's financially best for him to end up signing the tender via an agreement not to be franchised next yr, make his 17 mill guaranteed, and then become a free agent next year--thus getting out of Carolina and also guaranteeing himself another multi-yr major deal. If you add the guaranteed money from this yr and next yr, it'll be 17 + approx. 25 or so, in guaranteed money. That would put him in the range of Stafford's guaranteed 41.7, hell, it'll most likely exceed it.
Getting paid over 42 mill or so in guaranteed money in 2 years also lessens his risk of injury, etc, and puts him on another team (which is what he claims he wants) next season. Everyone talks about the risk of injury etc, but it's ultimately the guaranteed money they're after. Just by even playing this yr with Carolina, he guarantees himself (almost) the same guaranteed money in 1 yr that James Harrison is going to make in 6, approx. 20 million. I still believe he stays this one last yr with Carolina, and makes his guaranteed million per game, then waits for his major payday with even more guaranteed money next yr, in what's perceived by most players to be a much friendlier uncapped free agency.