There's a hole in that theory, however:

Supernova doesn't know who Clark Kent is. Booster would, wouldn't he?

Booster stared at Clark's face in issue 3 (?, the funeral issue) and didn't seem to realize that was Superman...so no, I don't think he does know.

That would also eliminate Ray Palmer as Nova. Unless of course SN was "playing" stupid of the fact that Clark is Supes.

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Interesting theory. Plausible too. I think it would be a great way to briing Ray back, and is a better suggestion than Rip Hunter.

Nope, Booster doesn't know Superman's secret identity. It seems Clark's - and Bruce's too, for that matter - ID's are only passed around sparingly (and something tells me they figured Booster was probably a bit too immature to trust with that knowledge).

As noted, in the eary issues of "52", Booster outright was ignorant of Clark Kent's "other life" straight to Clark's face (to the point of doing some things he would never have done or said if he'd known Clark was Superman).

Well, that's debatable, depending on who is writing the story. That was one problem I had with "Identity Crisis" that not only the villians knew who Clark and Bruce were, but so did many in the JLA. Crisis of Concience shows that at least those members of the JLA knew who Clark is even before the story. Bruce also allowed Hawkgirl, Black Lightning, as well as Diana and Clark into the cave.

I just find it odd that Ray Palmer wouldn't know, or that Supernova didn't know, whoever he (or she) is.

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Well, Ray Palmer obviously knew Clark's identity because Jean learned of it, assumably through Ray and his JLA connections.

Please enlighten me on the signifigance of why Supernova would know whether Clark is Supes or not, I don't see how it matters really, but I may have missed something, i'm going with Rip or Booster and hoping Buddy doesn't die.