I read a newspaper article (non wrestling publication) last year or so that the Warlord was forbidden to EVER go on tv again. Apparently he had some kind of legal troubles as he committed a no-no (they didn't say what) and he is only allowed to wrestle in non-televised events. That is why the WWE has shown no interest in him. He still has good mobility in the ring and such, even going back to using his old shoulder block from the top rope move. He wrestles against/with Kevin Sullivan and a few other 80 stars down here at the War Museum.
He said in the interview when he was with NWA/WCW he enjoyed that the most as his health was much better then. It was only after he went to the WWF that Vince split up the Powers of Pain which was one of the most popular tag teams then (they debuted as baby faces) that he saw there were some politics involved much worse than in NWA/WCW. He said the team was split up as not to threaten the veterans of the tag team scene.
He cannot be forbiden to ever go on TV. That is either made up or totally false. WWE has no interest because he is too old and really never got over as a singles wrestler. When he was in the Powers of Pain he was slightly over but never as a singles wrestler. Today, he could not keep up with the guys who are in the WWE like Benoit, Angle, Michaels, etc, etc...Like with all business - there are politics. In the late 80's it was more so in the WWE (then WWF) and in the 90's it was more so in WCW. But there have and always will be politics in wrestling. The Powers of Pain were split up because there was simply nothing left for them to do and Vince wanted to see what they could do own there own. Out of the two, The Barbarian was the more successful. Warlord was impressive looking and had a slightly successful run with the Powers of Pain in the late 80's, very early 90's but really that was about it.