I wouldn't say baseless. Pandemonium/Pandaemonium is three things: "wild and noisy disorder or confusion; uproar," "the capital of Hell in Milton's Paradise Lost" and "the infernal regions : Hell." Since the concept of the "Noise from the Star" that destroyed Amourot was introduced in 5.0 people have been speculating about it. The Japanese also love wordplay and Pandaemonium being both a word for "Noise" and the capital of Hell used as FFII's final dungeon makes for some serious wordplay with a reference on top. The pathway to Pandaemonium being sealed under a lake would be similar to the location of the Jade Passage in FFII.
As for the new "completely original" non-referential Alliance Raid series and the long running mystery related to it we likely will not find anything out about it until May.
