He was basically blacklisted by WWE in the early 2000s because he did an interview in one of the first issues of Smackdown magazine when he released his awful rap album. If he had slept with Stephanie when she was underage, Vince would have prosecuted. As the rumor also says that was one of the reasons he jumped to WCW, Vince would have been an idiot if he didn't prosecute someone who was a top star in another company. There is no credible evidence to support the sex rumor at all & if it was legit we would've been hearing about it as rumor throughout the 90's. I actually heard that when he released the following video is when the problems started with Vince. In parts of the video he is talking about taking Stephanie McMahon from Triple H & having sex with her. When the first Spider-man movie came out Savage was mentioned on WWE tv as being in the movie, something that wouldn't have happened if Vince was pissed at him then. They even changed the name of his character in the movie from Crusher Hogan to Bonesaw McGraw, to avoid a lawsuit from Hogan even though Crusher Hogan was a character from the first appearance of Spider-man in a comic in 1963 (Amazing Fantasy #15). Sure that doesn't mean anything related to the WWE ban, but I know that useless info & thought that I'd share it.
[video=youtube;jzFC0RcefS8]http://www.youtube.com/watch?v=jzFC0RcefS8[/video]