Q: Is that a sign that Fred is holding? What does it say?
A: Waiting on a computer person to help decipher it.
By the way, if this new theory is correct and they were captured by the Japanese, here is my take on why the US government kept it secret. I think the US had VERY good intelligence on the Japanese, including having broken ALL their codes. The US knew the Pearl Harbor attack was coming and chose to allow it to happen. Having done so, FDR didn't want us to know what he had done. After all, it was a "surprise attack", right?
In any event, if that is Noonan and Earhart in the photo it at least proves the US did have intelligence about what the Japanese were doing on at least one of those islands. And the most likely reason for not acting on that intelligence is that our spies didn't want the Japanese to know how they got it.
"National security" is just that - security for the national state apparatus. It is NOT security for you, me, or even a world famous flyer like Amelia Earhart. She was sacrificed so that FDR could have his war.
That's my two cents.