We've discussed this before, but I'll be very surprised. He doesn't live in the area, we aren't a contender, he doesn't know anyone on the team except Ward (who may not be back) and he'd be the old man in the locker room (assuming Stemp goes in the expansion draft). Williams is going to be 36 next season. Can't see him wanting to spend 7-8 months out of the year on a team that isn't a contender (or even a strong candidate to make the playoffs) and will have a roster full of guys 10-15 years younger than him.
I get the love affair with bringing old Hurricanes back, heck, Williams was my favorite player when he was here. I just don't see it though.