My guess is this puts the Titan's in a really bad position at QB depth and might increase Kolb's value. I'm pretty sure the Titan's were set at QB with their new draft pick Jake Locker as long as they had Collins backing him up if things went poorly. They have CJ at RB so they are always a contender. But without Collins as a very reliable backup to their gamble on Locker, they are going to have to acquire a veteran now!
I'm not saying that they would take Kolb, but they definitely will be in the market for a McNabb, Hasselback, Leinert or similar that previously could have gone to the Cardinals or Seahawks. So this is great news for us!