I miss that show.
The almost complete lack of errors and corrections in the text strongly suggest that it's nonsense rather than any kind of encoded message.
Granted, I know next to nothing about this controversy or Medieval history. But before conveniences like the printing press I believe it was pretty common to write out a draft and then copy very carefully the final version without errors. If someone could throw out any pages they made a mistake on, it wouldn't be too hard to come up with an error free manuscript given enough time and attention to detail. Even if the whole thing was done on some kind of prebound book, if someone had alot of practice making careful copies like this and went slow enough, an error free manuscript doesn't seem too far fetched to me.
That's not to say it isn't nonsense, but I don't know that the error rate is that strong an indicator.
"'Tis true, 'tis pity, and pity 'tis 'tis true." -- Poloniouius, in Willie the Shake's _Hamlet, Prince of Darkness_