You could be right. Thinking about it, when I've had LPs and LP-alikes in the past they've often had an issue where one pickup mysteriously "dies" temporarily then suddenly comes back (usually when you hit a really big open chord, for some reason). Cleaning the switch contacts seemed to help a bit.
I don't understand the science of it at all, but I wonder if it's something to do with the great length of wire between the switch and the controls?
Going back to the dead pot theory, I mentioned it because it happened on a Strat I wired a while ago - there seemed to be nothing wrong with the wiring but I was getting almost no sound. Because the volume control didn't seem to be doing anything I tried changing the pot, and then it all worked perfectly.