Not necessarily. It doesn't make any real sense how that would happen in first place!
I'm assuming it's a girl who's taken the names and costumes and combined them - no actual connection to either Michael or Ted.
Nah, if they are going to go down this path they should committ and just outright say she is the daughter of Ted and Booster via cloning.
This entire series was so underrated! I loved both Johns run and the Giffen & DeMatteis follow up; they managed to integrate the classic "Bwa-ha-ha" humor with the more serious superhero interpretation that Johns established.