This is an interesting idea for the Krige role. I'd considered it myself though but didnt' mention before as I'm sure some will not like it.
Glad I'm not the only one thinking it though. Could be very interesting....
However, It seems like Loki should be much more powerful than he is, if this is the case, but would certainly be a good reason why Odin would take him and try to raise him to be a force of good and why he didnt mention his mother at all.