I wrote on the same topic in my blog. My one difference from your position is that I don't think it is Hillary driving it.
I think some democratic insiders may actually have independently decided that Obama is not electable and started looking for cover should they go over to Hillary.
After PA and TX, they had that cover, as they could claim that momentum was behind Hillary.
Then came Ferraro and Hillary's mea culpa speech, and that cover vanished.
Now, with this Rev. Wright thing, they may be back in Hillary's corner. It depends on how long it stays in the press, and how poorly Obama continues to respond.
If you are interested, my take is here:
http://andrews.blogtownhall.com/2008/03/14/changing_predici tions.thtmlAnd my earlier take was here:
http://andrews.blogtownhall.com/2008/03/05/in_the_hands_of_ the_superdelegates.thtmlEssentially I agree with your interpretation, I just think that, though she way benefit from it, not all the energy behind the superdelegate defections is Hillary's. I think some other insiders may be worrying about Obama's chances as well.
And, completely off topic: I have only read two of your posts so far, but I like the blog.