According to Softy Mahler, that's the offer the Seahawks made to Philadelphia. He later clarified that the offer in question was made "months ago" and that the Eagles want players in exchange for Kolb rather than draft picks (Seattle offered a first and a third rounder), but even so it's difficult to declare the offer dead. After all, "months ago" means little with the lockout in place, and last I checked draft picks are still a reasonably useful way to acquire players.
Assuming the information is legit (Mahler isn't prone to reporting sketchy news items), this deal would spell the end for Hasselbeck's tenure in Seattle. If you go to the trouble of acquiring two promising young QBs by trading away high draft picks (remember, the team gave up a 3rd rounder last year for Whitehurst), there's not much reason to pay out the kind of money it would take to re-sign your aging longtime starter to a new contract.
Which tandem would you prefer on the depth chart next year, Whitehurst and Hasselbeck or Whitehurst and Kolb? Is Kolb worth a first and third round pick? Will we see the end of the lockout within our lifetimes?