I think it
may be used in your context, with the meaning:
in theory=discussing speculatively
You may want to look at:
http://www.answers.com/theory
on examples on
theory, including
in theory.
See there the differences between the scientific and common usage of theory.
Also:
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theory
b :
an ideal or hypothetical set of facts, principles, or
circumstances <the days when law and order was more of a theory than a
fact -- Seth Agnew> -- often used in the phrase
in theory <the failure
in practice of what looked so promising in theory>
http://unabridged.merriam-webster.com
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