Per the Washington Post, he's petitioning to get in.
To me, this depends on the deeper question of whether the goal is for the USA to select the best Olympic team OR select our Olympic team in the fairest way possible. Two different things. If it's the former (best team), then you'd say let let him in as it can't hurt and he has the potential, if he it somehow pulls it all together, to maybe make something happen in London. If it's the latter (fairest team) then no, he had to make the standard just like everyone else.
Personally, I think the US should stick with trying to select the team in the fairest way possible. I'd rather have our country be more fair with fewer medals than less fair with more medals.