Doesn't Melo have a pretty hefty trade kicker that comes into play mid-next season? If that's the case, Melo has no reason to leave until at least then. It also gives him a chance to see if the Knicks have any real chance of improving the team. I suspect the former is the main reason he didn't waive his NTC to join the Cs (or any team).
My understanding was that if he were traded this year, he got about $2mil, and if he were traded next year, it kicks to 8.
It has nothing to do with Honey Nut Cheerios (Not vanilla) or not wanting to play with our guys. If he were going to have left at the deadline, I think that he would've picked Cleveland over us, BUT....
...it's all about the Benjamins.