I'm not 100% on this but I think that you can expose players with a NTC for the expansion draft. It's just the NMC's that have to be protected. This would allow Shero to expose Cammy without needing his permission. Again I'm not 100% on that though.
I think there's a decent chance Vegas would select Cammy because his cap hit is a little high but only for two more years. It would help them reach the floor for those two years and then they can just cut their ties afterwards. He could offer slight veteran leadership as well.
You are correct, Shero can expose Cams to LV (he has a NTC), NMC's are the one that need to take a protected spot .
But, I would prefer a move pre-ExpDraft to get something for Cams (not much). This way they can expose LJ. Also, it looks like Shero tried to place PAP and Quincey on teams that had a shot of competing for the cup, I think he MIGHT consider that, but as long as there is value coming back.
And honestly I am hoping that Shero is trying to work a plan to move Clowes last year to LV for cap floor purposes and include our high 2nd for one of the d men Vegas will be picking up. Its little to no money out of pocket and gets them to the floor. We are done needing this, just spend the cash now!