This sort of thing implies that my choice of every word in this sentence causes a universe -a whole universe with planets and black holes and telemarketers and tofu- to pop into existence, just because I decided to use 'tofu' earlier instead of using "marmalade" or some other word.
Yes, but it's less wasteful then it looks, because we use copy-on-write techniques to minimize overhead. That is, we store only the "root" universe, plus the tree of diffs necessary to reconstruct the various child universes as necessary.
Which means the big bang and everything else that we know and that every human being has ever known about anything is just absolute pap.
Hmm, sounds like an appeal to consequences. I wouldn't worry though, chances are that everything is absolute pap regardless of whether this theory is true or false.