Some spoilers From Defying Destiny, Diamantine, and LARP Rules
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I think that the Fall of Velthryn is either the Exodus to Kaldwyn or the was a cause leading to the exodus. In Defying Destiny we learn that the Fall or Velthryn is supposed to be two years in the future, but in Diamantine we find out that it has been over 400 years since the Fall of Velthryn. If the Fall of Velthryn and the exodus are the same event or events that happened in relation to each other that would explain why there are prominent families like House Hartigan, House Theas, House Jaldin, which were all mostly located in, you guessed it, Velthryn. In the Kaldwyn Regional Guide there is a timeline of some of the important events in Kaldwyn from the year 0 AF when Selys first appeared and led refugees to Kaldwyn after an attack by the Tyrant in Gold. If the Fall of Velthryn and the exodus are the same or somehow related that would be the first world-scale power shift in the series which could be a reason why Selys became active in the world.
Thoughts? Opinions?