A lot of universities hire high-profile artists for their faculty, often as an artist-in-residence kind of position. It will be interesting to see how much time he actually spends on campus- I don't know what kind of touring/performance schedule Mr. Chambers maintains, but he may be around on a limited basis. The addition of a big name certainly adds prestige to a program, but I've also seen situations where the artist is on campus on a limited basis with less regular contact with students. That said, I met him when Bobby Watson brought him to UMKC several years ago and he was impressive as a teacher and very approachable, so the potential for a very positive experience certainly exists.
If he does have limited time on campus, his schedule might be packed. Certainly worth a try, though- often these artists will conduct master classes for the students en masse, and often these are open to the public. Frankly I doubt they're going to saddle him with a lot of administrative busywork- I expect the paperwork he was referring to was mostly involving the application process.
Good luck!