First, let's get to the hard news:
Palmer is a 5'11, 195 lbs rookie out of Northern Illinois, the same school that produced Colts 2012 seventh round pick Chandler Harnish. Both Harnish and Palmer were teammates last year, and both participated in NIU's Pro Day back on March 9th. The Colts attended that Pro Day, and the impressive showing by Palmer likely factored into Indy signing Palmer.
But, that's not the only reason.
Palmer's addition to the 53-man roster one day after the Colts choked away a 14-3 halftime lead to the Jaguars, eventually losing 22-17, likely means that the regular season is over for veteran wideout Austin Collie. Collie injured his knee in yesterday's game, and it looked serious.
Collie has battled injuries since he sustained three concussions during the 2010 regular season. In preseason this year, he received a fourth. Sunday's loss to the Jaguars was Collie's first game of 2012.
It also might be his last in a Colts uniform.
Collie is scheduled for an MRI on his knee today, but with the team adding Palmer, I think we can assume the worst.