I had heard that, but now that I browsed your link...I no longer think there's any relevance to the story.
There is no way Perrilloux transfers to Division II then back up to Division I. I don't know of it ever happening. It sounds like another RP fantasy such as winning the Heisman as a freshman. I don't think the NCAA will allow it, I don't think the SEC will approve, and I don't think Meyer is foolish or desparate enough to take him.