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https://twitter.com/TomPelissero/statuses/444144503683698689
Not that it needs to be confirmed, but I double-checked and yes, Revis contract language prevents franchise tag.
Not sure how it conflicts. Revis' agent may want to be doubly-sure that a tag could not be applied.
You can't tag a player if you release him prior to the end of the season. If the option is structured so that it automatically vests if he is still on the roster on day X of the new league year, rather than one that the Patriots have to affirmatively pay, then there is no point in having the franchise tag clause, since the team will either be forced to pay the money (which negates the possibility of franchising), or release Revis (which would render a franchise tag moot).