well, when he checked it all he can really of done is turn it by hand and checked it felt like it span smooth. Not quite the same as having belt tension on it and spinning at engine speeds. Not saying it is the water pump, just that its possible - i would say in future, if you change the timing belt on anything, just change the water pump, any belt tensioners and idlers at the same time, i mean you (or your mechanic) is in there anyway it just makes sense to do it then.
Oil pump.... Mmmmm, i guess its a possibility but i'd say very unlikely - not ever heard of one failing ever on these engines so i highly doubt it, but possible? yes i suppose so.