Update: According to reports, Visnovsky told Slovans official site that he intends to reach an agreement with the Islanders allowing him to stay in the KHL. He went on to say that there is no agreement between the NHL & KHL so he is allowed to play for Slovan.
According to a play by play announcer in the Czech Republic, Lubomir Visnovsky was seen traveling to Prague with his KHL team today.
Bob McKenzie reported yesterday that if Visnovsky didn't report by 10am today that he would be suspended. Bill Daley told Arthur Staple that the only way Visnovsky would be able to play overseas is if the Islanders give him permission. Arthur Staple reports that they will not give him permission to play there.
So it seems like Visnovskys options are simple, if he wants to play hockey again come play out his contract here, or he has to retire.