Yes you do have to hold onto him for now, but be mindful of how long this holdout goes. If he ends up back in TB when this is said and done, no problem. If he ends up some place else in the next few weeks, I may be a little leery of him learning a new offense on the fly.
As for other TB WR possibilities, Charles Lee should be floating around your WW.
I like simple pleasures, like butter in my ass, lollipops in my mouth. That's just me.