Looks like he won't be shutdown.
Micah Owings was sent to the Reds from Arizona to complete the Adam Dunn deal. Owings, a right-hander, will join the Reds in time for tonight's game with the Diamondbacks.
Worst-kept secret in the baseball is no longer a secret. I assume he's healthy -- injured played can't go through waivers.
From the Reds:
Today the Reds acquired from the Diamondbacks RHP Micah Owings (#56) to complete the 8/11 trade that sent OF Adam Dunn and cash to Ari for RHP Dallas Buck and 2 players to be named later...on 8/14 the Reds received C/IF/OF Wilkin Castillo...Owings, 25, this season went 6-9, 5.93 in 18 starts and 4 relief apps for the D'Backs. To make room on the 40-man roster, 2B Brandon Phillips (broken right index finger) went on the 60-day disabled list.