Yeah, very little chance he will redshirt now. If Kody Spano was still in the mix, who knows? Even if Cody Green was good enough to take the back up spot they might have just let him redshirt since they had enough depth at the position.
But, I'm pretty sure the coaches don't want to not play their best players just so they can have him an extra year. I think that's unfair to Cody. If he is good enough to be #2, then he deserves to play whenever he can. Pelini even said in a press conference they want to play to win now. That doesn't mean they aren't thinking of the future as well, but they want the best players on the field.