Never heard of that hypothesis before, but I'm quite doubtful. Depending on the organophosphate and the amount of the exposure/ingestion, vertebrates can recover. How would the spongiform encephalopathy on autopsy be explained?
If you're not familiar with PubMed, check "Related Articles" on the link.
It is poured, full strength, right down the back of the cow to treat for the warble fly. Some suggest an interaction with manganese.
http://www.ithyroid.com/mn_and_mad_cow_disease.htm
Sorry, this was the best source for which I had time. Some of the proponents of this theory are reasonably credible. Interestingly, the Swiss owners of the organophosphate patents (Zeneca, IIRC) have supposedly sold off the patents to a shell corporation with minimal assets.