Yeah - I wasn't sure how HS got into this discussion - though certainly a slew of high schools in the Parishes are likely completely out of luck for this football season.
No, the transfer eligibility for Katrina affected players remains identical with that in place before the flood. If their college gives them their release then they may transfer. If the college does not give them their release then they still are bound by the terms of the scholarship, even though classes may take place across a county (or more likely) state line.
And Piney, yes Tulane and others intend to soldier on, and the best of luck to them all.