Without reading the entire thread to see if this angle was already brought up... is this BB looking at the future of Wes? I know some people feel that this move means that Hernandez may be the guy who loses out next year if Ballard can come back healthy but I think it could spell the end of Wes instead.
Wes is being franchised this year, they tried to sign him for two years, he wants more years. If Ballard can come back healthy in 2014, the Pats could release Welker, sign Hernandez and Ballard long term. Move Hernandez to the slot receiver position and essentially have him fill Wes's role. That would leave Gronk, Ballard, and possibly Fells or Scaife as their TE's with Hernandez still on the roster to continue play a WR/TE hybrid role. I beleive this will be Wes's last year with the team.
Versatility... BB has set himself up for any situation that may play out at the end of this year. BB, the master chess player, thinking 10 moves ahead of anyone else.