By slow draft, I'm talking about drafts that take several weeks or even a month to finish, where each pick has a 24-hour timer instead of a 90-second timer. In those drafts, it is an absolute certainty that news will be breaking throughout the entire draft, and everyone will have plenty of time to hear about it, analyze it, and integrate it into their rankings.
I've seen a fair amount of conflict over the length of the slow draft timer in multiple leagues. In every situation it was a problem, it came down to 11 owners wanting the draft to move as quickly as possible and 1 owner milking his timer.
Because of those issues, the leagues I run that have slow drafts decrease the timer as the draft goes on, so there is less chance you miss the really important picks at the top. Like rounds 1-6 have a 4 hour timer, 7-10 have a 3 hour timer, 11-15 have a 2 hour timer, and 16-32 have a 1 hour timer, or something along those lines. A group of college students drafting together might feel different, but most people I play with have jobs and kids, and while they enjoy the draft, it's also a disruption of their lives that they don't want to run so long.
I think the information breaking angle is another good reason to keep the timers shorter. But, if a group wants 24 hours, more power to them. I'm kind of on the fence about your solution for Gordon though, having that kind of rule in place for just the one player, while other big impact breaking news doesn't have a similar rule cover it.
The first part essentially boils down to "different strokes for different folks". I love slow, leisurely drafts that take up an entire month. The draft is the most fun part of the entire season, in my opinion, and I love drawing it out and savoring it. I also like the promise of a 24-hour timer- it says that if you check in every day at the same time, you will not miss anything. Even a 12-hour timer carries with it a certain promise. If you're drafting on a 12-hour timer and you check in every morning before work and every evening after dinner, you're not going to miss anything regardless of what happens. With a 1-hour timer or a 2-hour timer, it's possible that I go out to a movie when my pick is nowhere near, everyone else makes their picks in a hurry, and I get skipped without realizing it. The only way to guarantee you're not going to get skipped with a 2-hour timer is to guarantee you have computer access every two hours at a minimum (or making heavy use of pre-drafting, which kind of defeats the purpose of a slow draft in my mind- the purpose is to have the time to consider every decision with the best information available at the time).
I get that there's a bit of time pressure in that you need to get everything done prior to the season kickoff (which won't happen if everyone milks their full 24-hour clock), but beyond that one time limitation, I like drafts that meander around. I like drafts that I can analyze and savor for weeks or a month or sometimes even longer. They're not for everyone, but they are definitely for me.
The biggest argument for treating Josh Gordon differently than everyone else is because we know about Josh Gordon in advance. Everyone else is a comparable risk- some players might get injured in preseason, but without foreknowledge we have to assume that every player is an equal (or, at the very least, comparable) risk for that injury. If you told me that on August 15th, there's an 80% chance Jamaal Charles would tear his ACL and a 20% chance that he wouldn't, I'd make similar exceptions for Jamaal Charles. Josh Gordon is a fundamentally different class of asset than everyone else, one where we know in advance that there's a certain percent chance he's going to carry 1st/2nd round redraft value, and a certain percent chance he's going to carry no value whatsoever, and it is beyond our ability to know in advance which way it will wind up going. Basically, he's Schroedinger's Cat, and all I'm doing is attempting to institute a blanket "no peeking" policy.
I'm not sure my method is the best way to address this particular issue, but I'm quite sure that this issue needs to be addressed in advance for slow redraft leagues, because the potential (and entirely foreseeable) impact has the ability to seismically shift the competitive balance of the league.