If its true, then I am surprised. Still there's is no risk and some potential value here so there's not much to hate unless someone you like gets cut. (White makes the most sense of those suggested to me.)
I do not have high expectations for Blount because in Pittsburgh he reverted to his Tampa Bay form. He once again did NOT gain the tough yards in short yardage situations with any consistency. People here forget that for most of the first half of the season when he was with the Pats, Blount was the same soft RB who never ran like a big back. However for some reason (see Ivan Fears) for most of the second half of the season, Blount actually ran like a 250 lb RB. The transformation, to my mind, just showed how good the Pats coaching staff was. The problem was the coaching didn't seem to stick in Pittsburgh.
So the mystery that is Lagarrette Blount still remains. Will the team get the battering ram we saw the 2nd half of the season, or the underperforming, inconsistent, feast or famine, RB that he's been his whole career, EXCEPT for that short 8 game stretch last season. The answer is, "who knows". I doubt BB knows either, but he obviously he thinks its worth the risk.
At worst he could be gone before the season ends, at best he's a valued back up who has a skill set that's needed.