This is the first time I've been less than happy with a Wikipedia article. The names of Professors Verrall and Roscher didn't register, so I went snooping around the web. Turns our they were both classicists, in the 19th century. (The entry makes it seem like theirs is a newer theory than the 'immortal' one.) Verrall is best known today for his wife (also a classicist) who dabbled in psychical research (i.e., she was a medium), and she was known to Arthur Conan Doyle. Verrall, who was at Trinity College, was also Aleister Crowley's tutor and is best known for editing some Greek tragedies. Herr Doktor Roscher's main book was a late 19th century classical Greek and Roman dictionary. Most people today seem happy with the 'immortal' meaning, and there is the parallel form in Sanskrit to contend with.

Homer used ambrotos in the Iliad when talking about Ares. He either said Ares was a 'fragrant' or 'immortal' god [see Iliad xx.358] Also, in the Odyssey, xxiv.444. Where he writes about the will of the immortal gods.

So, sorry, but I don't buy it. Your mileage may vary.