*Fantastic* book. I highly recommend Flynn's other stuff, too. January Dancer and Up Jim River are very stylized bits of scifi, and Wreck of the River of Stars is a superb tragedy.
Gameable? It could be, but the way the situation in the book was resolved wouldn't make for a good tabletop minis game. RPG, though, sure.
For a minis game, if we're going pure wargame, it would be a pretty typical 'bows & arrows against the lightning' until the Krenken run out of lightning, or there's just too many arrows.
Now, for more a more political game, you might have local acceptance of the aliens forcing greater powers to reconsider knee-jerk reactions – and then the maneuvering for control of what they might be able to offer begins…
But again, more suited for an RPG, probably.
