Immediate reaction is that this is probably a great setup for LaVall Jordan to have Meyer's experience on board and probably a nice, different opportunity for Meyer. I'd also venture a guess that it didn't take that much to hire Jordan away from Milwaukee and there's probably a decent assistant salary pool setup for Jordan.
As for what direction Michigan goes... We'll have to see. Seems like we've exhausted the assistant coaching target lists over the last few years now (for example Saddi was a finalist when LaVall was hired, then got the job last year).
Indiana/Ohio ties would seem to be near the top of the list as that's where Meyer operated -- and if you go back through the list, Meyer was an integral recruiter in a lot of Michigan's biggest gets.