Nice theory but the shallower the waters (reef) the warmer the sea temps are giving the cyclone strength. Power comes from atmospheric conditions, unfortunately a cyclone makes its path and will roll straight over coral reefs, hills and mountains without discrimination.
The same with TC Lam. Due to the shallow waters in the gulf, the very warm sea temps and the monsoon, we all knew that when the Low crossed across the Cape that it would develop quickly into a TC. We just didn't know as to what Cat or what direction it was going to go.
i like to think of it as a bit more than a theory, considering the amount of 'bullets' mackay has dodged.... but hey, i'm no expert. just lived here all my life...
not talking about power so much as general path...
plenty of previous cyclone tracking maps have shown this same curious behaviour around mackay and blokes that have lived here much longer than me say the same thing...
but, like you say, just a theory...
i'll take whatever protection i can get to avoid this type of thing...