That is a seriously bad explanation. I save hand wraps from my fighters pro fights for them,they all feel pretty close to the same,no matter who did them. They would way better off saying it was just old gauze,and thats why there was flakes coming off the wraps.
But to say "We were doctoring the guaze,and thats why the wraps looked doctored" is not the right PR path to take.
I feel bad for Margarito at this point,its up to his corner to take care of his wraps,heck,most of the time the boxer isnt even looking when he's being wrapped,he just assumes everything is cool. And this might end up costing him his career