At the end of OoT, the people of Hyrule thought that Link traveled to the future to save them, when he was really in a coma. A big part about WW was the people of Hyrule expecting the Hero of Time to travel through time again to save them, not that he would already be in Hyrule (and this doesn't happen, since he's not in this timeline). Also, WW's backstory happens ages/generations after OoT, so Link wouldn't have been in Termina that long to have feasibly come back anyways.
I think then my question is, if CT OoT Link decided to go into the future after having "saved Hyrule," could he have gone to the Wind Waker timeline? No, he would have gone to Twilight Princess. Right? I just disagree with that. The people in the Wind Waker are waiting for the Hero of Time to reincarnate, travel back through time, come up from Termina, whatever it is. But he can't do that. He's in a time loop in Termina that I think lasts generations. Time works funky in Termina. Or he got lost in the woods and died and turned into the Hero's Shade. Whatever the case, MM is the reason he isn't in WW, not because he's in a different timeline.
I saw it as the Triforce of the Adult Timeline shattering when Link went back in time, while the one at the end of OoT is the one of the new timeline he enters. There's one Triforce of Courage in the Adult timeline (now shattered), and one Triforce of Courage in the Child Timeline (a new timeline). If there were two Links in Hyrule, and one Link was showing Zelda his Triforce of Courage while the full Triforce was still in the Sacred Realm (to be split when Ganon touched it), then this implies there are two Triforces in Hyrule during this time, which I don't see as the case. This is before Link goes to Termina if that's where he loses his Triforce, which I also don't see being the case. To be honest, I saw the triangle on Fierce Deity's chest plate as an indication of a Triforce piece, but there's no real evidence one way or another. Link's Triforce wasn't glowing at the end of OoT on the Pedestal of Time (when Navi left through the window); he only showed it to Zelda in the courtyard. I would say he kept it on him until his death.
I see it as the Triforce of Courage on Future Child Link shattering because of the events of Majora's Mask. Whatever happened there, the Hero of Time disconnects from the Hyrule and the Triforce with it. There are two Triforces because there are two Links. But one is in the Sacred Realm with Link and one is broken apart after Link enters Termina. But the one in the Sacred Realm with Link becomes the one in Termina with Link because it's the same Link with the same Triforce so it's really only one Triforce and really only one Link.
The whole consciousness transfer is more like a way to keep one Link in the timeline. If one Link is from the future, it wouldn't matter whether or not Past Link has the Goron's Bracelet or not, Future Link would have had everything he got on his journey with him. This actually brings up a question: if one Link gets the Goron's Bracelet, and then travels to the future, and then travels back to the same past he was from (but there's another Link running around), how does the other Link get his own Goron's Bracelet? Or, anything from dungeons? If Link gets Zelda's OoT in a flashback in MM, when does this happen? If some other Link took the OoT and opened the Door of Time and is now in a time coma, where does MM Link get his OoT?
The way items work in the game is already weird. I'm gonna use the Kokiri Sword first. Where does your Kokiri Sword go when you're in the future? I'd say the Sacred Realm. I think after the seven-year slumber, and when time travel becomes instantaneous, items are given to Rauru or something so that you can't use the Kokiri Sword in the future. Then, when Adult Link is sent to the past, he picks up the Kokiri Sword from the Sacred Realm and is placed at the Temple of Time. Same with the Goron Bracelet, except this gets left in the Sacred Realm.
The Ocarina is the far-fetchediest part of my timeline I think. The rest I think is somewhat reasonable. Hear me out. Zelda, after sending Link back in time with the Ocarina, also sends the Ocarina back in time to Past Zelda, but to when Link needs to leave for Termina, not to when Link appears in the Temple of Time (with the Door of Time open somehow, what?) Zelda is in on the future and the past because Future Zelda told Past Zelda what was going to happen. This was her prophetic dream. The whole game, Sheik/Zelda is talking about destiny and fate and "this is what has to happen," but then she's also like, "I screwed up, I couldn't have predicted this, oh me oh my I am so stupid." SHE'S NOT STUPID! She knew what was up. She knew that it had to happen exactly as it happened because she's Goddess ****ing Hylia and she's incredible. So Future Zelda knew she got sent the Ocarina by herself, so she sends it to herself because she knew the first time...it's very loopy and paradoxical but it works better than "There are three universes and they all splursh cuz the Gods."
We can visit Zelda up until we get the third Spiritual Stone, so if Link comes back before having gotten the second one, and shows Zelda (and probably Impa and the King) the Triforce of Power, and exposes Ganondorf, this would match to what was said about Ganondorf in TP, where he was exposed for trying to get into the Sacred Realm.
Whenever you last visit Zelda is when Future Child Link lands in the Temple of Time because that's what already happened in the past. He has no free will when he returns; everything has already happened. There are no "ifs," there is just what was. If Link comes back before having gotten the second stone, there is no Triforce from the future yet because there wasn't when it happened the first time. If Link comes back before Zora's Domain and Jabu-Jabu, there is no Triforce proof because there wasn't when it happened the first time. It's destiny. Link is locked and him going back in time can't change anything because he was already back in time when everything happened the first time. That
would match what happened in TP if it was possible for it to happen, but because it wasn't what happened, it isn't what happened. I hope that makes some sense?
Also, for TP being right after OoT, the first time we meet the Golden Wolf is before we go to a Howling Stone, showing that the Hero's Shade sought him out. He could have done this for other heroes after his death and before TP Link. If there were other heroes in between OoT and TP, why didn't the Hero's Shade teach his techniques to another hero? Those were his only regrets. The Hero's Shade would have been the last 'Hero' before TP Link.
The Hero's Shade is so regretful because it's been so long. The Hero of Winds and Spirits were above the ocean and he was stuck in flooded Hyrule. Then the Four Sword people couldn't use his training cuz they had a dumb sword, the ALBW dude got Gramps (ALTTP Link) and so his first opportunity to train anybody was the Hero of Twilight. It makes an already tragic story even more tragic. He's been waiting for this moment for, like, 3000 years, not just 100 years. Every hero's only wish is to pass down their skills, and he didn't get to cuz Termina and losing the Triforce and stuff.