The understanding is he's expected to participate in training camp practices this week. It doesn't mean he's completely in the clear. There's reason to be concerned about the Achilles problem he had in the spring. It's an old college injury that resurfaced. That means it has never really gone away, and may pop up again. Hopefully (fingers crossed) it doesn't finally reach the point where it gives out.
The Giants have Daniel Fells, Adrien Robinson and a whole bunch of youngsters at the TE position. Jerome Cunningham, Matt LaCosse and Will Tye fare better as blockers and will be a factor in who makes the team and gets playing time if Donnell were to miss time. Donnell showed flashes last year but comes in ranked just 21st on our TE list and is a later-round flier in 12 team leagues. We don't always recommend drafting a second TE, but Donnell could at least be a guy to start in streaming situations.