The funny thing is that the users doing it the "not so legal" way, using torrents or some of the (often) Chinese tvstreaming/retransmitting sites during the games will easy the burden for the ISP;s and the network providers and they are seen as the bad guys?
If the BBC (or who it now is that is responsible for the main feeds) don't provide any alternatives that do the same thing that is a proof of backwards thinking! Or maybe that the IOC and the sponsors have way too much negative control over details...
Given how obscene data roaming charges are I doubt they will have to deal with too much additional load. Unless there are regulations or agreements in place for data roaming of EU and commonwealth members.
they NEED to put a firewall in and natively broadcast events online in managed compressed broadcast address streams where they can just tune in live to events they are missing. That would put a huge damper on geographic nonsensical transmissions where you are here, you queue from the ISP who is across the country to view it 500ft away from where it's being broadcast. Mind you, pubs will be open with all their TV's tuned in, but stopping stream hits to the network by having local broadcast address streams would work best. Having an Olympics App that works with Olympics subscribed routers utilizing those braodcast addresses for streams couldn't hurt. As for the rest, meh! If they want to stream video find a way to make them pay for it.