Wow, big props to you!
I mean, I... guess I didn't really hide it all that well, but I suppose if I hadn't mentioned that there was a secret in the drawing then nobody would have noticed at least for a little longer.
You hit the nail on the head, well, except for the crazy part about Squaresoft and Namco. :P
The eight yellow stars represent all eight of Klonoa's adventures.
The idea of some of the games being represented by a big yellow star and some a little stems from the idea that the big stars were his main adventures and the little ones (while still very significant) were his much smaller adventures.
The order goes like this (From left to right):
Klonoa: Door to Phantomile (Big)
Klonoa: Moonlight Museum (Little)
Klonoa 2: Lunatea's Veil (Big)
Klonoa: Empire of Dreams (Little)
Klonoa 2: Dream Champ Tournament (Little)
Klonoa Heroes: Legendary Star Medallions (Little)
Klonoa Beach Volleyball (Little)
Klonoa: Door to Phantomile Wiimake (Big)
So in that regard, it also serves as a kind of timeline too...