That's an intriguing possibility. The Toton site requires a lot of work that is very, very close to homes and businesses in Long Eaton and that tunnel under the airport. What this proposal seems to be is that as the route diverges from the A42, it could pass between the airport and the racing circuit, before crossing the confluence of the Trent and Derwent rivers to follow the M1 alignment. It might need a small amount of compulsory purchase on the eastern side of Breaston but after that it would be possible to meet up with the original alignment just at Sandiacre. It would presumably look something like this:
Yellow is the route that was presented for consultation, blue is my very, very rough outline of what might now be the case.
Other possible triggers for this change could include the Derby-Toton-Nottingham shuttle service, which would have required new infrastructure that was not ever included in the engineering reports. Theoretically the tram could still extend this far, especially if there is still redevelopment work done at Toton, by running the tram over the Toton site and through the town of Long Eaton.
EDIT:
Looking back at the Arup report for the eastern arm, this is what it says about Draycott or Breaston:
However, the map in that report says that their Breaston station was never adjacent to the M1, so this may have been an option that fell through the gaps and was never properly considered.
Also, that newspaper article says explicitly that HS2 Ltd are to report on the Phase 2 consultation on the 27th of October.