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I am thinking that even if the seed words change or the mnemonic seed option is removed all together I can still recover my wallet with the old mnemonic seed by using an old version of the wallet. Is this correct?

The old version of the wallet should always be available from git.

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Yes, you can always use a historical wallet that matches the wallet from the time you created your seed. You would then need to determine what the new wallet expects. Because the seeds are depended on by users, it would likely be easy to upgrade, and hopefully a wallet version or two would be backwards compatible.

I don't know of any plans to change the seed words for the time being.

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