Unfortunately the players' union would probably challenge his release at this point, as long as his legal matters (2 of the 3) are pending, and the fact he's recovering from an injury. So they pretty much have to wait until the right time to do so, without causing more distractions and problems. At least that is what I am led to believe. They missed their chance apparently, during the end of the season after his 1st offense, before he got hurt. The league will suspend him any ways.
A satirical article like that may be funny, but it's hardly based on anything remotely accurate, the Bengals' hands' are tied. The problem, is the type of people Marvin is bringing in, not the tolerance level of the team once they're given a chance, I think.