The articles that I've seen suggest that it's the standard red button service that will go and not the newer Red Button + service (previously known as Connected Red Button). So there would be no change to what is available on TiVo.
Sad though it is when these things go away, in this age of higher quality HD channels, a very low quality grainy feed that just loops round repeatedly wasting broadcast transmission bandwidth is getting less and less relevant. As long as the content will be still be available via the connected systems or iPlayer, I guess I won't miss it any more. Shame for people who only have a non-connected freeview TV though.