If I were Wonderboy I'd turn down the fight or demand double the purse to take it. Does him no favours to fight a guy who will likely have a weight class worth of weight on him.
Sad situation. You can forgive guys who miscalculate and miss by point-something of a pound, but when you're missing by 3.5 that's just unprofessional.
I think the UFC should put in a rule that if you miss by 2lbs or more, the fight is automatically called off, your opponent gets their full pay + win bonus and you get nothing.