I can't remember exactly what the proposed alternative was, but college football was studying a "one play" scenario where the trailing team would have an opportunity. They could easily keep the on-side kick while ending all other kickoffs. On-side kicks are never a surprise when used as a last resort at the end of a game. They could limit it to the last two minutes and make the team declare their intent. At least you wouldn't have players running full speed for 40-50 yards and colliding with injury potential at the highest level.
Again, I don't see kickoffs being eliminated until somebody comes up with a replacement for the on-side kick. There has to be some mechanism, regardless of how risky, to enable a team to be able to immediately gain possession of the ball after scoring. I know some ideas have been floated around, but nothing has stuck yet.