Eh, I'm not all that interested in John Morrison returning. Frankly, I don't think WWE management is either. Morrison was fun to watch inside the ring and his "Shaman of Sexy" and "Guru of Greatness" schtick was kinda fun in the beginning, but it got a little silly after he left the ECW brand. Unlike guys like Jericho or RVD, Morrison was never really a main event guy. He had a handful of title shots, but he never won it.
JoMo had some great matches against Sheamus and, for a while, it looked like he might genuinely get a run as WWE Champion until he, allegedly, became something of a joke backstage. Once word got out that JoMo, allegedly, had no issue with Melina screwing other guys, including Batista, again allegedly, JoMo lost a lot of respect among the locker room guys and management. Still, that aside, JoMo never really connected with the fans. He reminded me a lot of Shelton Benjamin in that he had a good look, was crazy athletic, but there was just no solidified connection with fans.
The last I heard, Morrison seemed to be pretty happy working the independent scene. I'd read a few years back that his price was $3,000 per appearance, dunno if he's getting that much, but he's obviously been making enough money to where he feels he's much better off than signing with TNA.