Just thinking out loud......perhaps there is some middle ground here. Suppose the NHL didn't shut down for those 17 days AND allowed players to attend the Olympics? A team could be restricted to how many players they could send/lose....perhaps by seniority. This keeps the NHL open for business while also keeping the union happy. Players are replaced by AHL'ers on the farm team AND the parent club would gain some cap space during the 17 days. In addition, all NHL teams would play 6 games (no more...no less) during the Olympics. 

I, for one, do not like these compressed schedules featuring back-to-back or 4 in 5 nights. Perhaps this suggestion might help !! (I know....when pigs fly)