That was one of my (Mike Baillie's) favorite theories...I'm not sure I want to part with it yet. (Shoot!)
The Exodus dates to about 1450 BC, the actual end of the Middle Kingdom; meanwhile, the New Kingdom is dated centuries too high, having started during the reign of King Saul in Israel. The Thera eruption (the massive one) took place circa 22,000 years ago; the caldera seen today as the harbor was formed then. :')
The only major eruption in historical times dates to circa 200 BC, which goes a long way toward explaining how Herodotus (who lived before that) doesn't mention it, even though he talks quite a bit about Santorini / Thera / Calliste.
As consolation to you...
It also means that Plato didn't base his Atlantis story on the eruption of Thera, since A) it hadn't happened yet, unless one counts the 22,000 year BP major eruption, and B) never made sense in the first place.
:'D
"I'm not sure I want to part with it yet."
Check out my comment #47, wherein I discuss the major eruption of Mt. Etna, 1500BCE + - 50 years. If anything is related to Exodus, that one is. Besides it may have been part of a much larger series of tectonic events aroung the Mediterranean and the Sinai. I think Exodus took place during the 18th Dynasty. I think that Hatshepsut may have been involved somewhere in the Moses story, or Amenhotep II, or both at different times. I am still working on those theories.
"I'm not sure I want to part with it yet."
Check out my comment #47, wherein I discuss the major eruption of Mt. Etna, 1500BCE + - 50 years. If anything is related to Exodus, that one is. Besides it may have been part of a much larger series of tectonic events aroung the Mediterranean and the Sinai. I think Exodus took place during the 18th Dynasty. I think that Hatshepsut may have been involved somewhere in the Moses story, or Amenhotep II, or both at different times. I am still working on those theories. At any rate I don't think Ramases II was involved. [My computer is acting weird, so pardon any double posts.]