Rand Paul appears to respect the separation of powers.
I believe that Presidential EOs can be rescinded by the incoming President - until then they stand.
Below are a couple older articles that sets forth the basics and some detail on EOs.
The Use and Abuse of Executive Orders and Other Presidential Directives
By Todd F. Gaziano
http://www.heritage.org/research/rep...ial-directives
Presidential Executive Orders
http://usgovinfo.about.com/od/thepre...ive-Orders.htm