EA Sports settled their class action lawsuit with former college players. Ed O'Bannon was the named plaintiff and there wasn't a high-profile BC athlete attached, but this should impact BC sports. This pretty much ends any chance of future NCAA video games. But it also sets a precedent for former players to recoup revenue from their likenesses.
I'm not a lawyer, but I think something like this has more legs than Northwestern players unionizing. The unionizing will take multiple teams joining in and could get caught up in courts. This settlement will put a check (albeit a small one) in the hands of former players.
Who knows how this will all play out? My only real prediction is that we will follow the lead of the schools we want to be associated with (like Duke and Notre Dame). But what the means or when change happens is a mystery.