No, unless you prove it is worth considering. i do not know whether Ven. Wataraka Thero was an arahant or not, and I do not know whether his teachings are leading people to the Enlightenment. It is impossible both to prove or disprove it. So, I have to take into account other evidence.
The crux of the argument for the revised meaning is linguistic (because comparing pali words to modern Sinhala ones is a linguistic argument), so you should provide linguistic evidence for its validity. If you are not ready to provide it, then please don’t use linguistical comparisons in your argumentation (like ‘in Modern Sinhala this word means this and this, so this is what it should mean in Pali because teh sounds are kind of similar’), because it would be plainly dishonest to use scholarly looking arguments if you cannot back them with scientific data. Just postulate the revised meaning and ask us to accept it on faith: this is pretty much what you did here in this thread, so it is okay, I have nothing against it. Still, I know that you are using linguistically looking arguments elsewhere, so why not do it here?
Could we please discuss the matter further in a separate topic please?