Never thought about that. I'm not sure how it would fit with the Liosan homeworld which seems to be almost inaccessible to others. Given the devastation of that world i'm assuming something then must also have happened to greyfrog and by extension L'Oric. If it was indeed the Liosan Homeworld. And that is not a thing i just see happening without any mention.
Other things i have against it being the homeworld of the Liosan, is that i'm assuming they live in a world of pure light, like the Andii live/lived in a world of pure darkness. Also the liosan are described as hot-tempered. The opposites of the Andii whom are apathetic. And those children seem to be quite apathetic, instead of hot-tempered. Then their is the fact, that while the Liosan have closed themselves of to the outer world, they do seem to posses knowledge of the other races. meaning they would have recognised that the ones hunting them where Forkrul, not 'adults'.
I'm not sure anymore how the children are described physically. that might provide some clues. other things that might help your theory, is the fact that they the children seem to walk in a certain hierarchy, and the fact that one Liosan refers to their language as The Language of Purity.
PS: whilst typing this up, i realized, that i have forgotten the details of the interactions between the Children, and the ones hunting them. (Adults, ...). How they think of the ones they left behind, on their tails. Secondly based on my vague memory ;
(those passages weren't my favorites--> just figured Erikson would eventually reveal the truth about all the vagueness, and was too bothered to really try at the moment and truly look beneath the surface, given the fact that i was at the time more interested in other parts of the book, and that erikson at times writes passages which you'll only be able to understand at a later date anyways.) ;
i recall that they referred to themselves as children, and the ones pursuing them as adults. perhaps there is a connection betweem the two. As shown by the fact that one of them was able to learn the language. Some kind of Forkrul offspring, mutation, ... . Like humans are somewhat connected to the Imass.