It's an interesting general question, but Walter's role in this situation is arguably moot since TG referees directly confronted the issue of tracking this title when they "regrouped" for discussion after Joel was congratulated for his score.
https://www.twingalaxies.com/showthr...per-Mario-Bros
I think it's safe to say that Walter wielded authority, at minimum, in his role as "spiritual father" of TG in 2011; whether he actually "owned" TG or not and therefore had the "right" to create a track, TG refs later examined the presence of the track on their own and retained it, along with Joel's score.
The dispute was originally posited on Triforce's illegal use of continues beyond a 5 minute increment of game time. Yet Joel's score submission was subsequently adjudicated and accepted by a TG referee, and retained by TG after questions about tracking a PC 10 title were raised. According to Scott's post in the thread above, the reason he was told TG traditionally avoided tracking Play Choice 10 titles wasn't because of the game play timer, but in order guard against "watering down the scoreboard" with re-releases since PC 10 are essentially NES games. Throughout the 2012 discussion there was no assertion that Joel accomplished his feat in 5 minutes, nor did I come across any posts where this issue was raised as a reason to reject his score of 835,050. Perhaps in the absence of Joel's score, things would be murkier, but in view of its acceptance I don't see a basis for claiming a "no continues" violation in Triforce's case.