Walker went on the open market last week after the Roosters decided they could not afford to keep him next season due to salary cap constraints.
But the 23-year-old is intent on playing with a club capable of winning the premiership and confirmed on Sunday he would play for nothing to achieve that goal.
League officials said there was nothing to stop Walker providing his match-winning services without recompense and that could be enough to convince the Roosters to reverse their earlier decision.
"Potentially he may (be able to stay) because he's gone and tested the market out there and it's pretty tight," Roosters chief executive Bernie Gurr said.
"Potentially he's back in the frame.
"We just have to sort it all out. We have to sit down and talk to his manager."
Walker - who has scored seven tries in his 14 appearances for the Roosters this season - did his cause no harm on Sunday with a freakish solo effort against Manly at Aussie Stadium.
The former Queensland back showcased his blazing speed, sprinting 60 metres and leaving a trail of defenders.
It was the sort of impact the Broncos have lacked during their recent five-game losing streak and Orr is optimistic Brisbane may reverse its decision.
Orr is in Auckland for talks with Brisbane officials and hopes he can nut out a deal.
"I'm hoping that they will reconsider if we can structure a better deal which would alleviate their salary cap issues," Orr said.
"Maybe if we structure the deal over three years weighted towards the last two.
"I think he brings a lot to the table. He's getting better and better at the Roosters."
Orr also played down the prospects of Walker playing next season for free.
"He's obviously not going to play for nothing," Orr said.
"He's going to play for considerably less to stay with a good club."
Walker left the Broncos at the end of last season to take up a lucrative deal with South Sydney but ended up walking out on the Rabbitohs in May.
He joined the Roosters and is understood to be enjoying life under coach Ricky Stuart.
Walker has played six games for Queensland but was not selected for the Maroons this season.