If the NHL realizes any significant money out of this thing, unless it was just for insurance, I can't see Don Fehr not going after it in the next CBA. He'd portray it as the league hiding revenue from the players again.Such payments as these are NOT considered HRR based on current definitions in the CBA. (Nor are expansion or relocation nor territory indemnification payments part of HRR.)
So, the players might get nothing.
Can't speak for European leagues (as I don't follow them), but the North American AHL, ECHL, CHL pro (minor) leagues continued playing through the Olympics.
As for Rene Fasel, even if the IOC tells the NHL to pound sand, I could see them approaching the networks bidding on the Olympics and telling them they won't participate unless they pay them x dollars. The networks would adjust their bids accordingly and the NHL still gets their money at the expense of the IOC.