They're already inducted. I don't think they'll get a do-over.
But, I think the VH-1 Rock Honors show would be a great opportunity for Van Halen to make it up to the fans. While the RRHOF is a more prestigious honor by far, the VH-1 Rock Honors show is well produced, and more prominently displayed event (at least on VH-1, which does great lead up publicity for their tribute shows, case in point their annual Hip Hop Honors program).
That would be their best chance to get their moment in the sun while being there to perform live for all the people who didn't get to catch the 07 tour in person. It would also be a great opportunity to get a band to pay tribute correctly so as to erase that awful Velvet Revolver fiasco.
And maybe not too far down the road, get everyone together for a VH-1 Behind The Music.