Not too sure if I believe this - I think you can find fractals/images/messages in anything if you look hard enough (though God alone knows what they would make of Mark Z. Danielewski's House of Leaves creation). If it is all 'stream of conscious' stuff like Virginia Woolf's 'The Waves', then that makes perfect sense, but not really in Joyce's work. To be honest, I am surprised that they find anything structual in Joyce's Ulysses at all, as the last chapter is a monologue that seemingly has no punctuation whatsoever. Where is the 'perfect cascade' there?
Chatted to senior lecturer about this.
Me - Is there any truth in this?
MW - Well, you may find structures in anything if you frame the parameters of the search in the right way.
Me - I was thinking that, too. You can read into something any which way you like.
* lies down to listen to backmasked Judas Priest albums for inspiration.