No problem. I love taking the map of Tamriel myself and imagine highly improbable scenarios myself. There is just something about modifying maps that is fun.
What I would find interesting to occur is from the Telvanni Islands (if the Dunmer still have a prescence there, which due to it's remote location, it may have survived both the eruption and Argonian attack), the Dunmer launch a Reconquista style on the Morrowind mainland against the Argonians and slowly whittle away the Black Marsh out of Morrowind, eventually allowing the Dunmeri to control Morrowind again.
Food. The Telvanni are reclusive, but they still need food like everyone else, and the bread basket of Morrowind is not destroyed and in the hands of the Argonians. I wouldn't be surprised if some Telvanni Lords and their towers are still around, but even so, I don't think they'd care enough to reestablish anything, they're all so tied up in their own crazy affairs and experiments. Telvanni are not really the conquering type, and without food it becomes even less likely.
I seriously doubt there is any come back for Morrowind as a Dunmeri nation. Whatever the Dunmer people do after this, I think it will be separate from Morrowind.