Good news for him, in a way, is that he will still get paid by someone. Either the Colts wait until the 75 man cut down day to IR him, or they subject him to waivers and he is either claimed and paid by another team (unlikely) or he is back to the colts for IR purposes. I believe they also can then waive him but with an injury settlement that is typically a good portion of the money that was due to him.
I know Lutrus will work extremely hard to get back at it and he will be back in the NFL a year from now.