The Hero's Shade(Spirit) is certainly an odd character in the game, I mean he isn't actually a part of that time but is a spirit of a past hero (
Hero of Time) who passes down skills in order for Link to earn courage. He also appears as a Golden Wolf, who actually exists in the world, which is weird since the Hero's Shade is actually a nonexistent.
I'm kind of stuck on which way to go; Is he the Hero of Time in spirit form or is he just a fathom of Link's memories? On the one hand if we look at the way the Golden Wolf encounters Link, he jumps at Link and in a way it's like a past memory is striking Link, like a sudden realisation. There is also the matter that the Golden Wolf is vastly similar to Link's beast form, this could indicate that the Hero's Shade's appearance only exists with what Link already knows. When Link actually encounters the spirit it's not a physical place, some people have drawn comparisons to it being the "heaven" of Hyrule however I think it could be Link entering the inner chambers of his mind.
Hero's Shade said:
At last, the skills I have to teach you have entered the realm of true secrecy. They are forgotten ways that do not leave our bloodline.
This quote seems to show a personal connection, so it could be quite possible that the
Hero of Time and TP Link are very much blood related, further proving the whole memory idea.
However I also have a problem as the Hero's Shade seems to be very much a character within himself, not just simply Link remembering past skills. Just look at some of the quotes he says:
[ilquote=Hero's Shade]You have a little more of the look of a hero than you did before... Do you feel ready to earn your next skill? [/ilquote]
[ilquote=Hero's Shade]It appears your efforts have begun to return some vigor to Hyrule, but it is far too early to relax. [/ilquote]
[ilquote=Hero's Shade] Believe in your strength. Continue to push forward unflinchingly, and without straying from your path.[/ilquote]
[ilquote=Hero's Shade]Although I accepted life as the hero, I could not convey the lessons of that life to those who came after. At last, I have eased my regrets. [/ilquote]
[ilquote=Hero's Shade]Go and do not falter, my child! [/ilquote]
It's hard to say but I do think this is the Hero of Time connecting with Link and generally helping him on his journey rather than a simple memory as the Hero's Shade seems to be of a higher power/knowledge of Link. However what I find weird is that when we where the Hero of Time we never seen any of these skill that the Hero's Shade passes down so maybe OoT Link from the
Child Timeline may have not been done with his adventures.