I'll say no, since he was ejected from the game.
I will say yes, he gets a game 2 suspension. And he deserves it by the rulebook... I mean, there is the Dwight Howard's example and also, if the slap Alston made to Eddie last year is worthy of a suspension, KG's elbow clearly deserves an ejection + a suspension.
Well, the rulebook only says that an intentional elbow above the shoulders is an automatic ejection. Anything beyond that is discretionary.
Since he was ejected, the minimum required by the rulebook has been met. Howard was suspended because he wasn't ejected from the game he threw it in, so the league was forced to act. Here, they're not compelled to, but they may if they wish.
I don't think the league will do anything further; I think they want their stars to be playing in big games, and when they can avoid discipline, they will.