Loose connections corrode.
Corrosion eats the wires.
Yes, the corosion could cause it. I have looked for any TSB's on the problem, and cannot find any.. so you just might be on to something there.
If the wires are loose and corroding on connectors........like I said in my first post, it will mess with signals to and from the computer.
To go into much more detail
, though.. I need to know the exact codes it gave you. If there are misfire codes, then you can almost guarantee there are other codes associated with them. Misfire code only says the cylinder is not working..... You should have rich or lean codes, which will give some sort of direction to go in.
With the corrosion on the cables.. I almost have to say... again... the problem is in the ignition system. Loose, dirty connections will definately cause problems like this, and eventually start burning up parts, because the electricity hads a hard time getting past the corrosion. Low voltage makes the components work harder thatn they have to, and heats them up.. that is what burns things up... but it doesn't seem like anything is burned up... YET.... So you are on the right track.