If you have ten billion dollars to spare, anything's possible.
Other people have speculated, and I agree, that it's more likely they cut the line at Doug Ford's Corruption Emporium Science Centre and instead run Ottawa/Seattle-style operations to the west, and the east gets the Finch treatment.
That's out of the range of most of our lifetimes, and if Eglinton East gets built without the connection, this plan will be dead forever.
The bigger concern than gauge here is platform height. To use the OL's trains would require a conversion of the Eglinton Line platforms to high floor, something which would optimistically require a multi-month shutdown (probably multi-year). Otherwise, with LRVs, just turn around every other train or every third train at Don Mills when capacity hits the roof.
Honestly, it's the same deal as Sheppard; I don't think a conversion or elevated guideway will happen, if for no other reason than the inconvenience to existing riders while everything changes over. (elevated even more so, that's a multi-year shutdown anywhere)