I think the same - Edit 1
Before modification by DomA at 09/10/2012 06:26:11 AM
I think the River of Souls, if it's not totally metaphorical or figurative, might be the state in-between reincarnations.
... though I wouldn't expect too much a novella dealing with the Afterlife in general.
The first idea that came to my mind is that the novella might tell the story of the "ghostly procession" (those ghosts were spectral, not mistakable with living people like the other ghosts, and this was pointed out) that was seen beyond the wall of Bandar Eban in TGS, and which Nynaeve/Cadsuane/Corele went to watch one night. That chapter was called "River of Shadow"

The other reason to believe this will one way or another have to do with the Afterlife is the fairly transparent reference to mythological afterworlds, the river Styx notably.
Btw, it's confirmed that the novella is built around (a) deleted scene(s) Brandon cut from AMOL for pacing reasons.