The West Indies players have a right to dissent if their demands are not met, but I am sure they will not pull out of a very important event like the World T20. The India tour pullout already was a huge setback for the West Indies board.
I think the WICB knew all along that the players would go and play in the world cup, and maybe I'm a bit cycnical but if you know players will play anyway, then your going to offer them contracts that amount to very little.
You know they kick up a fuss, but you wouldn't care as you knew they would complain, but not strike. For me the WICB won this battle.