Guys, let's be real here. Cotto does not deserve a shot at Mosley right now, despite their previous fight. Mosley needs to lure Floyd into the ring. If not him, Pacquiao. After he beats one of them, then Mosley-Cotto II would make more sense, especially if Cotto avenges his loss to Margo.
With Margarito's power now bring called into question due to the illegal wraps, Cotto should probably drop Marg and rematch Mosely. It'll be a great fight and now will probably be huge huge huge. LA vs NY? Fuggedaboutit...
Arum has said win or lose that he plans on matching Margo against Cotto at MSG the eve of the Puerto Rican day parade. As long at Cotto wins against Jennings I think that will remain Arum's priority. Realistically Mosley can either pursue unifcation matches with either Berto or Clottey and because their were many rumors about a Mosely-Berto fight once, I tend to believe that Berto would be the most realistic choice.
I can see not wanting an immediate rematch between Cotto and Mosley in order to possibly have a bigger fight and let the rematch simmer, but saying Cotto doesn't deserve the shot at Mosley as the basis doesn't make any sense. He's only one fight removed from the title and beat Shane the first time around.