As of this morning, all indications are that he did not sign the tender and is not under contract.
We're not sure exactly what the Chiefs have done but they were eligible to reduce it from his original tender level ($1.759 million) to 110% of his 2009 salary ($1.6995 million).
If the Chiefs did this -- and Page did not sign before 10:59 p.m. (CDT) last night -- then he stands to lose $59,500.
The Chiefs are basically in the driver's seat at this point. They own his rights and if Page doesn't sign by the 10th week of the season he'll lose an accrued season towards free agency.
Maybe Page wants the Chiefs to release him. Neither side has been talking throughout this process so we're not really sure.
If I were in Page's shoes, I'd be speaking to the local media (on or off the record) putting his story out there as to why he's not signing it. Absent more information, the perception is that he's being greedy (even though I personally don't think that's the case).