Reports in the star trib started yesterday saying they were rehiring him.
I'm not terribly familiar with his history at the reds when he was a GM there, though I think he was resonsible for the Josh Hamilton trade, which at first was working out well for both teams. He'd be a special assistant to Smith, which given Smith's record, he needs all the help he can get.
That said, the Twins have a history of always hiring from within. That's not bad to an extent, but they do this to a fault. They could use some fresh blood. I suppose this is better than just promoting someone, but I'd kind of like it if they brought someone in from outside the organization alltogether.