That's what was great about Reagan for conservatives - he could sell it. Jindal also has a decent record of reform.
Nowadays, being an obviously intelligent, honestly devout, minority helps in moderating your perception of being "radical." Palin came across as perhaps too inarticulate for many of the exact same ideas and religiosity to be sellable.
I think Jindal is leaning towards '16, but as Palin said in this thread, if the door is open, you don't know when it's gonna close. You might as well be there.
Could you see there being a backlash against Jindal for what may be perceived as gimmicky (i.e., "our minority candidate vs. Obama")?