Nothing in "AWT" strikes me as new or original. Every idea in it has been used by many others
Bacically it means, the
AWT is rooted in commongly used mainstream science concepts... So, where's the hoax problem? I'm just explaining the common science...
The
AWT uses the only one very new idea, the substitution of energy into mass of string in solution of wave equation. Such concept wasn't never used (try to correct me, if I'm wrong), although it's a quite trivial, I admit. The better for theory.
The math background of Aether Wave theory (AWT) consist in the common solution of two equations:
1) the wave equation

2) the mass-energy equivalence principle

These equations are describing the oscillations of massive elastic string, where the mass density of string is always proportional to it's energy density in each moment & location. Here's lot of ways, how to solve such system and such solution is job for math, not for physic. The few first iterations can be done even on normal PC computer, in 2D the result looks like this:

At the first glance, the AWT predicts, for example:
1. The Universe can be described by substitution of mass density of vibrating string by the energy density by E=mc2
2. The gravity field is manifestation of Aether density, the gravity force is tendency of Aether to level the energy density via diffusion of Aether
3. The Aether theory derives the constant speed of light and Lorentz transforms of SR
4. The vacuum has a 6D spongy structure composed from 3D bubbles recursively
5. The Universe is highly, if not infinitesimally recursive
6. The Universe is formed by black hole interior, filled by such spongy matter
7. The Universe collapses, instead of expansion with increasing speed like common gravity bounded objects without need of dark energy postulate
8. The supermassive black holes inside of gallaxies are the rest of quasars and these quasars were created by collisions of newly created vacuum mass during inflation
9. The observable mass was created from secondary condensation of energy radiated from quasars by adiabatic cooling
10. The dark matter was formed from non-condensed portions of such energy as the zone of more dense Aether surrounding the quasars and secondarily all the observable mass
11. The dark matter gradient is responsible for so called Pioneer spacecraft anomaly and the Galaxy shape anomaly
12. The particles are created by dense aggregates of Aether foam by phase transition process
13. The spin of particles is formed by mutual composition of motion on the phase interface inside of Aether foam
14. The charge of particle is the result of helicity of such motion.
15. The photon is the result of interference of light wave with Planck size wave pockets, forming our vacuum.
16. The wave function is the Aether mass/energy density profile formed by the internal motion inside the particle, forming an wave pocket confined by the dense vacuum like by gravitational lens (blob).
17. The "hidden variable" responsible for quantum entanglement is the phase shift of wave forming particle with respect of the center of gravity of such blob.
Some of the points have some backup in older concepts. Most of them is solely new, though, at least the mechanism, by which they're explained.