ManyFacedOne, on 22 January 2012 - 01:37 AM, said:
And isn't it obvious why he doesn't reveal her true name? As Jeyne, she's worthless; as Arya, she has great value. Who knows what they would've done to her had they known she was a fake, but as Arya she'll definitely be treated kindly and receive help.
Is she really worthless as Jeyne Poole? If the Northerners and Stannis aren't complete idiots, they could make use of her. She could expose Ramsay Snow! Surely, that's worth something. If everybody knew that Ramsay Snow had married a fake Arya, the tenous hold of the Boltons on power would be further strained. As it is, still nobody knows that "Arya" is not Arya.
So who does it really benefit, if Theon doesn't want anybody to know that "Arya" isn't really Arya?
1) Most importantly Ramsay Snow and the Boltons
2) Possibly Theon Greyjoy: because he couldn't claim any longer that he rescued Arya Stark. Even though he could claim that by rescuing Jeyne he helped exposing the Boltons. Well, the Northerners want him dead either way. Just like Stannis. Maybe he hopes that FakeArya can make them feel more inclined to mercy toward him? Hmm, I really wonder at his motives now... that I think of them. Maybe he was afraid of the risk involved in telling the truth? Or maybe he thinks of the Northerners and Stannis as idiots who won't make use of exposing the Boltons? Or he still suffers from Stockholm syndrom?
The preview chapter imho increases the chances of Stannis' corroborated death to be true. FakeArya is sent away together with Justin Massey which explains why Ramsay Bolton wouldn't have found her. She is sent to the Wall, just the place where Ramsay suspects her to be.

Something will happen with Theon while he is with the trees (I suppose Asha could be there too) that could explain why Ramsay Bolton thought he escaped to the Wall.
And if Theon is right and Ramsay himself is going to take part in the battle, chances of him just being fooled by Manderly forces seem to dwindle. The more so because Manderly himself won't be with his forces, he is sick at Winterfell, possibly dying.
It could still be possible of course that Ramsay lost and just wanted to troll Jon. But then again... what does he gain from it? When I first read the pink letter, I really believed that it was written in desperation because it seemed so crazy. Looking at it now I am more inclined to believe that Ramsay is goading Jon. He sounds confident to the point of calling Jon to Winterfell to have a look at the corpses.