It could....I mean, its moderate now. Depends on how quickly it can decay later this fall and into early winter. I think the strongly negative IOD belies the ultimate intensity of the la nina this cold season....be careful about interpreting the rather robust -IOD as an ensuing major la nina event. The IOD is also influenced by the timing of ENSO events, not just the strength....thus earlier onset la nina is correlated to more robust -IOD events. This of course is a well-established, multi year cold ENSO. Its later onset ENSO events that are less likely to manifest in changes to the IOD.
I am finding some really interesting stuff concerning the IOD...I suspected that -IOD was correlated to el nino modoki due to the co occurrence of increased convection over the W PAC, and early returns are that I am right.
Just another feather in the cap of an el nino modoki once this cold ENSO decays during the coming winter.
Do you have a good link for IOD data?