Well, at least we're not in limbo anymore. Monday, shortly after Drew Ott had been at the NFL Scouting Combine* to participate in interviews (he's still not cleared in his rehab from knee and elbow surgeries to participate in physical activities), Iowa announced that the Big Ten had agreed to move Iowa's appeal for a fifth year of eligibility for Ott on to the NCAA, who will make the final decision.
Basically, the Big Ten didn't say "no" to Iowa's request. Which is nice. Of course, even if the Big Ten had said "no," Ott still would have been entitled to appeal the decision to the NCAA.