It is a theory in the same way gravity is. Both parties have experienced both gradual and sudden, major shifts and realignments throughout history. Most of the dispute is where and when these changes occurred and what constitutes them exactly. The changes clearly occur, usually over several decades but sometimes more quickly.
I’m still curious what your response is to my Strom Thurman question. It illustrates the entire point and marks one of the most recent major party realignments in the US.
The same as gravity? I wouldn't go that far. Gravity can be measured repeatedly and no objections have even been made to its effect. The theory is sound because it accurately makes predictions about the universe.
Theory is just an explanation for what we observe and I think this theory explains some things better than others. The two items I listed are are clear contrast to the theory.
Let's say it's not a unified theory of American politics, at the least.
I'll edit here for Thurman, I have to go read... Back soon to update.
Edit: I wasn't and still am not familiar with Storm Thurman. From a brief skim of the Wikipedia page, I gather he was a political "spy" of sorts, working from the inside to further the opposing party's goals.
You may need to elaborate a bit for me to see the tie in.