THE BORE IS IN TEL'ARAN'RHIOD
The importance of Tel’aran’rhiod to the story is such that I believe it is pivotal to the Last Battle. I have concluded that the Bore which Rand must seal is in Tel’aran’rhiod.
THE BORE IS NOT IN THE REAL WORLD
Demandred stands in the Pit of Doom and thinks...
I read a theory on another forum that seems pretty solid to me: The bore is in Tel'Aran'Rhiod and the World of Dreams ties everything together. Shayol Ghul is located at the point where the separation between the waking world and the World of Dreams is weakest, which is what allows the Dark One...