The 1999 SHVIA Act essentially says that neither the station owner (in this case Viacom) nor the satellite company are required to provide or carry the channel for a particular DMA area. It further states that if both parties don't agree, then the satellite company cannot carry that channel and they cannot carry the network feed of another station into that DMA.
Since Viacom has lumped everything into an all or nothing package, once the injunction expires in a week or so, if an agreement has not been reached on the package, it will be Viacom's call (not E*'s) to shut the CBS feeds down in their O&O markets.
However, there's one possible twist in this scenario. The two CBS HD feeds that E* carries came about in late 2001 via a combined agreement between CBS, Samsung and Sears in order to provide CBS's HD coverage of SEC football among other things. So even if Viacom forced the shut down of the SD feeds, there could be some contractual obligations that would preclude Viacom from turning off the two HD channels. If this were true, it would only affect the small number of us who qualify for the HD feed and have E* HD receivers.