Jason Cole article: Brees - 3rd Franchise Tag? CBA Wording
If this is the case, I think it would also affect the Club's ability to sign Drew to a long term contract if they were forced to Tag him again next year. I can't find it, but I thought something is triggered in the 3rd tender that prevents a team from then tagging them again or from signing them to a long term deal.
Also, it would change the rules for this Tag to become a "second tag". the NFL clearly doesn't see it that way.
EDIT: if I"m dead wrong, sorry. I know I hate misinformation too.