Giant Land Squid!
I just discovered this cutting amongst all my squid paraphernalia. It is from a trashy free newspaper given out to train commuters in Melbourne, so it isn’t the best authority.
But maybe there is something to this theory? This article refers to a TV series where this idea is explored. That series is now available as a book and a dvd, called The Future is Wild. There also seems to be a Website with more information, and excerpts. It seems that the authors do have some credentials.
“The Future Is Wild tells of 8-ton squids roaming the land in a world where all the continents have merged into a single, huge landmass.”
Another article on this is here, and there is a review of the book here.