Actually read again:
Update from Doug 4:13pm ET: Unfortunately, I screwed this one up. Clauses such as the one the Jets gave Revis (waiving their right to use their franchise tag on him) do transfer in a trade. Any team that acquires Revis will either have him for 2013 and lose him to free agency, or they'll have to come to terms with Revis on a longer term deal of their own. Like the Jets, they will not be able to tender Revis.
He is either a 1 year rental, or he gets an insane extension.