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I guess I'm confused then....I was certain they had a deal worked out with him to keep him on the Practice Squad until another spot opened up OR at least through next Pre-Season to give him a full off-season of workouts and MM tutelage.  (meaning that if another team came looking he would choose to stay in GB due to some financial considerations, etc.).   I know it was only preseason, but the way he performed you almost certainly had to give him another look.

I don't know if it's the answer for sure, SDPF, but I think the kicker in this situation was the Packers released him thus exposing him to waivers.
NO potentially could have claimed him to put him on their PS as opposed to being required to sign him to their active roster is the way I 'read' it (Because he was waived).
My guess if the Saints made an offer while he was still on the 53 man roster, the Packers could have paid him more to keep him. 

Here's some cursory info:
NFL Practice Squad Basics

Welp. That didn't last long. I suspect GB will get him right back on the practice squad:

ESPN Staff Writer 

The Saints waived rookie QB Joe Callahan Saturday, one week after claiming him off waivers from the Packers. They promoted DE Chris McCain from the practice squad to replace him. It's possible the Saints could try to bring Callahan back to their practice squad if another team doesn't claim him. However, he could sign with any practice squad he wants -- meaning he could opt to return to Green Bay if invited

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