I think this theory is very possible. Although not plausible, very possible, and personally I like this theory. If it were to be true, if ever revealed somehow through another Suikoden game, then that'd be pretty cool. While it may just be someone's wooden amulet from the game, it's still nice to have faith and believe.
"If you can laugh at yourself everytime you fall down, people will think you're drunk"-Conan