Yes it has been doing the rounds online for ages.
Having been a lifelong fan & knowing how Vince operates, my belief is his problem with Savage is-
1. Vince had just given Savage an extensive interview- looking back at his WWF career over 2 issues of WWF Magazine, at the end of the second one they had to announce that Savage had since left the WWF.
2. As said, Savage like Hogan a year earlier still saw himself as a top line wrestler. On the other hand Vince saw him as an announcer/goodwill ambassador etc & a part time wrestler putting younger guys like Diesel over.
3. Savage assured Vince he had no intentions of going to WCW- which is why Vince agreed to the release. Then a month later he showed up on WCW Saturday Night.
As we have seen with other people, if you get one over on Vince then he is highly unlikely to bring you back- Jeff Jarrett, Lex Luger & Alundra Blayze/Madusa being the other notables.