It could be years before we see any results of the O'Bannon case. NCAA already said they will appeal it and most analysts predict they will take it all the way to the Supreme Court if they have to. I think eventually we are headed to a NCAA Players Association.
As far as the KHL, there is just bad blood all around between them and the NHL. It's just as much on the NHL as it was on the KHL for them not being in the game. My fear though is eventually all the top teams in Europe will play for the KHL. They added Jokerit this year and their is already rumors of the top teams from Germany, Austria and Switzerland all being added in the next few years. Eventually the KHL could be the NHL of all of Europe.