That is quite a theory, Exile – a lot of moving parts.
May supported the remain campaign, but her political future, such as it is, depends upon delivering Brexit and she must know that. Neither she nor the Tories would survive a u-turn on the outcome of the 2016 referendum. She may well not survive a ‘successful’ Brexit if the Europhobe wing of her party doesn’t like the final deal.
I don’t think May is making a botch of anything. She is playing the hand dealt by the electorate and in Chequers has come up with what is probably the most pragmatic approach possible if a ‘no deal’ exit is to be avoided.
As for the notion that Tory grandees (whoever they might be) are working in the background, I would suggest that doesn’t hold water. The Tories have always been split on Europe, because large swathes of the party are Eurosceptic. Starting with Thatcher, the Tories have easily been the most Eurosceptic party short of the BNP and UKIP. At the present time it is the centre Left in the form of the Lib Dems who are most pro-EU (who knows what Labour thinks about it). And how does the notion that there is a Tory plot to frustrate Brexit sit with the call from the GMB that there be a second public vote? I think it unlikely that they would be influenced by Tory grandees.
If there were to be a third referendum before Brexit was completed and the public endorsed remain then of course the politicians would be absolved of responsibility for remaining, because they would be putting the will of the people into effect. I would have a small wager with you that there will be no such vote, however.