What does it mean?
My take: Jones didn't distinguish himself during the recently completed exhibition season. He hasn't built up much equity. Accomplishments predating the Seahawks' current leadership don't buy much security. Jones was on the roster bubble heading into the initial reduction to 53 players. If the Seahawks could have upgraded following cuts, they might have made a move (they took a flier on LenDale White earlier this offseason and acquired Leon Washington). But as the situation stands right now, keeping Jones at a price lower than his $2.45 million salary beat the alternatives. If Jones plays better because he's on notice, all the better for Seattle.
It's a little surprising to me that Buffalo has held onto Marshawn Lynch, but if the Seahawks had a shot at landing that type of runner, I think they'd have to consider it.