It does look like the Phantom Sword/Master Sword (the one Link is swinging),
in ALttP the MS has a metal & red handle, so I'm sure AT theorists will think the color
is being washed out with age/corrosion...
ignore everything else and diminish the theory to "the sword-in-the-forest"
Sword in the forest is old hat. This one even has the coloring of the sword from LttP's official art.
Pretty much every other reference to LttP in TP was either:
1) placed before OoT
2) something that was in an "alternate history"
The Priest and Sanctuary in Kakariko were clearly derived from the same in LttP, but these were a Native American priest and sanctuary, while LttP's were more Christian in design. The Hyrule Castle Sewers were similar to LttP's, I agree, but the sewers have been seen/referenced in multiple other games (and ST's castle is more aesthetically similar to TMC/FSA/LttP's anyway). Zant's backstory is obviously similar to Agahnim's, but Zant is obviously not Agahnim. Ganon is fighting against Hyrule using an evil tribe, but it's obviously not his demon tribe from other games.
These references are about the same as TP's references to Adult OoT - in TP we hear of a hero who fought demons to save Hyrule, Zora's Domain gets frozen over, Link travels through time in the Temple of Time, etc. etc. They seem very much like "parallels" to the game being referenced rather than in chronological continuity with them.
The cross-guard looks just like the Lokomo symbol seen on the Spirit Train
Good eye on yeah mate! I didn't catch that at all. Well then if that's the case then this sword has got to be named the "Spirit Sword" or something. I just got an idea! Remember in PH when you had the Phantom Sword you could kill Phantoms? Well what if this Spirit Sword, you no longer need to collect Tears of Light? Makes sense, right?
Don't confuse Oracle of Seasons with Oracle of Ages.
Listen people, I though we made this clear by now:
There are two sword upgrades that you can get in either order.
You can get the master sword in the woods if you get the noble sword first.
I didn't. I was countering Lex point that the Master Sword in the Oracle games had the same color scheme seen in the ALTTP art, while what he was actually referring to was the Noble Sword. Master Sword has a blue hilt in both OoA and OoS. I just brought the picture I had at hand.
But hey, if it means so much to you then I'll post your bonus sword as attained from OoS.