I'm going to go out on a limb and say...
... without wanting to pee on everyone's parade...
...that this is total BS.
Now that I've had time to think this over and assess the situation, and to look around to see what's what, I can't imagine anyone paying Meszaros that much money, and then, on top of that much money, giving up a minimum of their 1st, 2nd, and 3rd round picks. It's just way too much for the guy; it doesn't make any sense.
The Hockeybuzz people have determined that a team would need to have its original 1st, 2nd, and 3rd round 2009 draft picks to do this. There are only something like 5 teams in the league who currently still have all 3 of their *original* picks to meet the compensation needed. Of those teams, about 4 of them are legitimately in the running for Hedmand or Tavares. And I can't see any GM being dumb enough to give away a shot at one of those two guys.
I think it's possible that someone's approached OTT with the possibility of the offer sheet, hoping to guage interest to see if we would be willing to trade Mesz. That's about it. My skepticism towards the whole situation rises with every moment that passes with no further details, as no one can confirm the amount, the term, or even the team who supposedly did the signing. Remember when we had Jason Williams "signed, sealed, and delivered," too? This just might be more of the same.