Considering the way Brandon likes to use some sort of proper physics theories mixed in with his magic I would not at all be surprised if Hoid's "world hopping" is not only a physical way to move, but a temporal way as well. Consider the concept of space-time in physics. Hoid could quite possibly be bending space and thereby time to go where he wants when he wants.
Now tie that into lightweaving. If Hoid can bend/manipulate light, then he can bend/manipulate space and therefore time as well. This would account for his world hopping and his longevity.
Of course a lot of postulation is that Hoid is using Shadesmar to travel and that theory is sound, but perhaps the concepts above play into his ability to travel through Shadesmar as well. If that is indeed how he hops about.
Either way I believe that Hoid not only hops worlds, but hops time as well. It would account for some of the chronological questions brought up concerning his authorship of the letter.