It is a shame the two probably won't be reunited this season. Unfortunately Everton just don't have the money that their rivals do. If Donovan were to go to a different club, Everton fans would probably be okay about it - not much the club could do about it and Everton know how they stand financially.
I'm not sure where else he would go really. Man City and Spurs don't need him, not sure Villa would be able to afford him either, and it doesn't sound like any of the mid-table teams are looking at him. I'd love to see him back in the English league but I don't think it's going to happen.