It was love. You see, when dear sweet Lily Potter gave her life for her only son, it provided him with the ultimate protection, I could not touch him. It was old magic, something I should have foreseen.

So, of course, in a universe with a smarter and more competent Voldemort, he does foresee it.

I see your point; the fact that their words appear to follow the structure of a dark ritual is interesting, but it's also subtle enough that I wouldn't give too high of a probability to that thought. Too many other things are going on around it that we just don't understand for us to really be sure of anything, I think, including what we are meant to believe and what we should believe.