I mainly wanted to put this here as documentation. This was originally found by DarkShadow Nemo (MegaSpeed Xtreme) a couple of years ago. Going to School has an IL OOB which only works in the NTSC-U PS2 version. However, there is another OOB which works on all versions:
This version of the skip works in all versions with it skipping finding Pearl and everything else up to the race. You first have to hit the cave cutscene trigger before doing this OOB as the trigger is enormous and it will put you in the cave which is unfortunate. After hitting the cutscene, you can go back and do the OOB where you can then traverse under the stage and past the rocks. I believe this would save close to 10 seconds if done perfectly. It is slower than the US PS2 skip but the natural advantage is that it works in all versions. The main issue with the skip however is that it is very precise and inconsistent. I think it could maybe be incorporated into a full game run but one would definitely need to put a good amount of time into the skip in order to do so.
I’m not too familiar with 100% but it would also work there. I do think you are able to go under the boulders at the end but that would have to be double checked.
The better question is whether you can go OOB while carrying pebbles, because all the pebbles are on the right side of the giant clam and all the platforms are on the left.