Last season he was indeed suspended for two games for conduct detrimental to the team which means his remaining $3.635 million in previously guaranteed money is now voided. This brings his dead money against the cap from its previously assumed figure of $10.895 million down to $7.26 million - just $585k more than his 2013 cap hit would have been had he remained on the roster.
Basically what this means is it the cost of cutting him is negligible compared to keeping him. But keeping him would have been far more costly to the team dynamic and you can't put a price on that. That said, actual monetary value is nice as well. In this case, for Rolando McClain, it was literally payback time.