I signed up to work on the Hyrule History for Minich Cap but I've been having problems getting a copy of the game. I can't find my copy and I used to have the emulator/rom but I recently changed to Linux OS and for some reason can't get VBA on it. I might try to see what other games aren't being worked on and switch.
As for the subject of this thread, there is no reason to truly believe that the Hero's Shade HAS to be a past Link. There has been given plenty of evidence to the contrary.