You have touched on the very interesting mind-boggling topic . Your solution is doubtful and there are better explanations to that .Note that the Watchtower may seem to be very smart at explaining some views and your explanation is seems to be worse .
You read about Melchizedek in the Bible ? Read Hebrews 7.
He was an anthropomorphic being ! Check a dictionary on that .He was not a real human being though he looked like he was .
To reconcile the best way these 24 elders from Revelation 5.8-10 with Revelation 14.1-5 and considering various other aspects who 144000 people might be is to see these elders as 24 anthropomorphic beings representing future 144000 servants of God Yahweh and Jesus Christ.
The order is GOD YAHWEH - God Jesus Christ - 144000 menservants ( men ) as the one world government .
144000 are the best greatest disciples of Jesus .
You should check my post history here how I view 144000 servants . But what is more important don't dwell to much on the past how the Bible was understood long time ago it is now important as never to learn how the Bible is understood nowadays as I am proving from my posts we must be living in the very endtime as Daniel 12.4,9 is clearly being fulfilled right before our eyes.
Go to alt.religion.jehovahs-witn ( a google group ) or Jehovah's Witness Online forum and find a subforum
"Conspiracy Theory,End of Times Predictions , Jesus 2.0 " and learn how we can know we live in the endtime era by studying my posts .On google when you find my post - by OBVES - click on "more options " and then on " find messages by this author " .
God's name hides 2772 .... ( you can find out how I came to that ) .When looking from the Center of God's Throne we can see: 72 and 72 . 72+72 = 144.
24 will look like 42 and 24 . 24 + 42 = 66 .This number 66 represents God's Word - the Bible as it should have 66 books .
Jesus is God's Word and his bride 144000 servants as his body are can also be identified as God's Word .
24x72 = 1728 . There is a date 1728 BC which identifies with Jacob - Israel . Also note my dates : 106 AD ,150 AD and 1878 AD.
150 AD - when true christianity ended + 1728 years = 1878 AD - the dawn for the revival of the true christianity by the International Bible Students.
96 AD - The Book of Revelation given + 10 years for "10 days " as per Revelation 2.10 = 106 AD.
106 AD + 1772 years , as taken from 2772 years - 1000 years, = 1878 AD.
1728 years + 1772 years = 3500 years which is "3.5 times "; each day as 1000 years.
Note : 1513 BC - Israel freed by God Yahweh + 3500 years = 1988 AD ; which is in the middle of the period 1984 AD - 1991 AD.
29 AD - Jesus began his 3.5-year mission - 33 AD - Jesus died on the Cross - 36 AD = 1984 AD - 1988 AD - 1991 AD.