So,
OoA time thingy...IT MAKETH NO SENSE. NONE. YOU HEAR ME. NONE.
People in the present can physically see the Black Tower getting bigger as it gets built in the past. Thus implying that people can comprehend the changes time travel made as they are currently [in the past] happening. wtf.
Yet at the same time, before you ever travel back in time to save the Goron Elder, a Goron tells you that you have the same name as a boy who rescued the Goron elder long ago. This implies that past/present/future happen simultaneously, and thus time-travel is irrelevant because it's all already happend.
1: Number 2 is true
2: Number 1 is false
OH SHI-