Yep, that is basically what I am suggesting,( although the theory is not mine, but something that i have read) although others on this board have raised concerns that light from a single star might not have the intensity to travel several hundred light years and still be seen.

A better example, perhaps, would be the light emitted from a galaxy, because of course that light would be much greater.

Yes, we could possibly witness the birth, life and death of a galaxy similtaniously if this theory were fact. We know for sure that the stars and galaxies we witness at present are a trip through history because of their varying distances. This would just put a new twist on the old question:

Is the universe is finite or infinite?