It would make sense. I've come across yet another set, incidentally, this time in British Minstrelsie (eds. Greig, Parry, Bussell, Fleetwood Sheppard and Hopkinson, London, Caxton, n.d., vol. IV 84-5). It appears as Hunting the Hare (Hela'r Scwarnog), "English and Welsh words by Professor Rowlands". The English is different from what we have seen so far: it would be interesting to see how close the Welsh might be to Tegid's lyric.