I think that the likely answer is yes. The naming of slaves after proprietors was the less common pattern in the Caribbean in contrast with the States.
It is likely that a white Jefferson had a child with a free colored woman and wanted to let the community know that he recognized the child was his. It would require more investigation but it is well known that the President Thomas Jeffeson had relatives on St. Kitts. http://www.pettisfree.suffolk.gov.uk/jeaffreson.html