He's not 100% decided mentally, but he's been medically advised left and right by his personal PT and friends that he shouldn't. Less of a "miracle" recovery, he won't be competing.
I am a HUUUUGE Victor fan and I want nothing less then Victor being rightfully, past due crowned Mr. Olympia, but if he waits too long to jump in, he might not be where he needs to be to beat out Cutler.
I'm guessing he won't compete. He has a career to worry about and theres no sense in risky more serious and permanent injury over this one Olympia.