He's not going to put out an E.O. gutting the program any further (he's already made the "hops" changes, for instance) until the replacement is in place, which requires telecom action. And telecom action won't occur by E.O., which means it requires Congressional action.
Assuming it was an executive order (and I can't imagine it was anything but, although facts are slim pickings), of course he can "retract" it, using yet another executive order.
"EOs are published in the Federal Register, and they may be revoked by the President at any time."[1]
