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I was going to say that I was presenting my reality-fantasy theory in opposition to the author theory, but that's not quite right. I more think that the author aspects aren't a very important detail for interpreting what goes on in the series. I'm not saying there is no written versions of the Fragments, as the story says there are. I'm simply saying that the multiple worlds exist, as the story presents. I'm saying that a Sea of Fragments exists, as shown.
My speculation is that Featherine observed the fragments, and wrote them out as forgeries. And before people say that this is fantasy manifesting itself and that couldn't possibly happen, let me explain. With this reality-fantasy existing on the level of consciousness, the fact that Featherine is retelling them is not breaking any kind of physical laws or making magic real. She would simply be telling a story, which people could (and do) think she just made up as normal stories are. This is what Author theory presents. I argue that it doesn't change very much if instead of it simply being a product of Hachijo's mind, it's rather what her mind viewed on this higher plane. It's similar to the state of Sakutarou. You could look at it as simply a delusion in Maria's mind. Or, if you subscribe to the idea that this different plane of reality exists, Sakutarou is simply there but can only be accessed through Maria's mind. The difference in how you regard it is huge, but the end result is the same.
I'm not saying I can explain or even understand all the nuances of what Ryuukishi has created. There's a lot of really deep philosophical issues, and there's definitely more to the whole author idea then I'm fully putting together when you start looking at it through different perspectives of reality. But I strongly believe that the events are real and that the fact they are also recorded does not make them fictional.
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