If Revan went LS then Candy still could have been Mandalore, except instead of using the clans to help Revan conquer, he'd just help them to rebuild. He says that the clans could be reborn under either the republic or the Sith.
It's a clue. I'm not saying I'm not wrong, but it seems to be an awfully good bet that he could be Mandalore. *holds up sign* CANDY FOR MANDALORE! Hmmm...that looks different than I imagined lol...
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Ummm... no. Canderous said he was no longer interested in killing and fighting. It is possible that Revan (DS) could convince him, if only to have the clans under his wing, even though I don't think it would be easy to convince Canderous. Besides, the mandalorian clans were broken after the war and I don't think they were worth much as a fighting force at that time.
LS Revan would have no interest in rebuilding the mandalorian clans, and therefore Canderous wouldn't have any business being Mandalore. The Mandalore is a war leader for a war loving people. Peace is not their strong point.
Anyway, Canderous is a Bioware character, and I don't think Obsidian would want to give a character they didn't create too much importance. They'd be better off making up a whole new Mandalore.
I sure hope they have not made Canderous the Mandalore... it wouldn't be consistent.