I can tell you that unfortunately, given the fact that so many winners were revealed yesterday, if you didn't get a scholarship award you probably won't. Can't say definitely, but probably. And I also remember in past boards that people just sat at "boarded/under consideration" for a while.
I do agree with you that it will likely be next week, or even longer, before everyone is moved to a "not selected" status. It could be that there will be a few more scholarships to hand out, so I wouldn't lose all hope just yet. However, I would start looking at Plan B in the forum of campus scholarships offered by the various schools you are interested in and/or the Minuteman Scholarship program through the National Guard/Army Reserve. The Minuteman is actually a fantastic program, and I can tell you I would have had my DS pursue that had he not gotten a scholarship award.
Here's a link for more information on the Minuteman program:
MINUTEMAN CAMPAIGN