Remember that the whole EWLRT was supposed to be on the street. The section from Renfroth to the airport in all the current Metrolinx maps is just copied and pasted from the old street-running design. So, I expect them to review it once the current EWLRT and the airport hub are more solid. Keep in mind that the line has always been planned to elevate over the 401 onto an elevated Convair station. It is just elevating earlier than the original (rough) maps. The question mark lies on if they would elevate Silver Dart station (or provide a grade-separation of any sort) with the runway being relatively close. The REM runs at grade in some sections with just fences. That is an option too.
Regardless, the current Renforth Station alignment shows promise.
There is some space between Silver Dart Drive and Highway 427 for a right-of-way. Will likely see it grade-separated (below grade) next to the airport runways, and likely at grade outside of the runway paths. There is also a service road between the runways and Silver Dart Drive. I can see them adjusting the service road and Silver Dart Drive to fit in the Eglinton West LRT right-of-way.