I don't know if we've seen the last of Simeon. With the Jaguars coming to town (a team known for their tough running game), the Colts might have cut DE Simeon Rice because they need more beef and less pass rushing. Despite people's opinions, Rice did have one sack and about three QB pressures in two games with the Colts. Not bad. Rice is a situational pass rusher now, whether he likes it or not. Against the Jags, it makes little sense to have someone like him play. Guys like Raheem Brock and Josh Thomas are more likely to see time at DE because (unlike Rice) they can play the run well.
Also, with Luke Lawton re-signed, the Colts should have most of their quality special teams players back. Lawton always played well on ST, especially in coverage.
After the Jags game though, you might see a few roster moves resulting in Simeon re-signing with the Colts. Indy did this with Klecko and TJ Rushing earlier this year because of all the injuries. So, we might not see the last of Simeon. Maybe.