Can they make the playoffs? Well yeah, technically it's still a mathematical possibilty. However, barring a miracle, they won't. They are going to trade Wayne Simmonds. If they weren't, he'd already have been extended by now. We can all criticize him (and rightly so) for his play on the ice for most of this season, but I don't think that anyone can question his popularity among his teammates and the respect they hold for him. No matter what the specifics of the deal are, I think they stumble a bit after it is made.
So let's look at the standings from a purely rational perspective. Even if all of these teams stumble and/or struggle quite a bit, based on their roster, health and recent track records, here are the lowest reasonable point totals (and my estimated actual point totals) we can expect from them:
Montreal 92/95
Islanders 96/101
Capitals 96/101
Pittsburgh 95/100
Boston 95/100
Columbus 90/94
Carolina 86/90
Buffalo 85/88
They need to pass at least three of these teams, so at best they need to go something like 19-8-2 to get in. However, more realistically, they'll need to go more like 20-7-3. Also, to actually have a chance to win in the first round (they ain't beating Tampa), they'll probably need to go 23-5-2 or better.
Sadly, I just can't see it happening.