Looks like the rumors and speculation was true - Greg Romeus will have back surgery, as reported by the Post-Gazette and Tribune-Review today.
"Our top priority is doing what is best for Greg," Wannstedt said in a prepared statement. "After consulting with him, his family and our medical staff, it was determined that immediate surgery is the best option for Greg both personally and athletically."
Romeus has already used up his redshirt and his Pitt career may end after this season. He could try to get a sixth year of eligibility as Adam Gunn did (Gunn also played in one game the season he was injured and had previously used a redshirt), but since he's projected as a high NFL Draft pick, I don't know that he'd want to risk coming back to school anyway.
The good news, if there is any, is that Brandon Lindsey appears to be ready to step in and play. I've heard a lot of talk about how well he played last week, but that was against an FCS-School offensive line. I think he'll be fine, but definitely a downgrade from a fully healthy Romeus.