Candace,
I think you're right. There is a missing generation.
A more recent genealogy "A Register of the Ancestors of Dorr Eugene Felt and Agnew (McNulty) Felt" compiled by Alfred L. Holman in 1921, lists the children of Moses as Joseph, Joshua, Lydia, Sarah and Mary.
Joshua is the father of Aaron Felt, born at Rumney Marsh, Jan. 21, 1715-16.
The writeup on Joshua is as follows:
Joshua Felt may have been born at Casco Bay and removed with his father to Rumney Marsh (later Chelsea), Mass., but the first definite record found of him is his intention of marriage, which is recorded as follows:
"Joshua Felt of Rumney Marsh Ann Walcot of Salem, Dec. 9, 1712; and they are said to have married Jan. 15, 1712 (1712-13). The date of death of this wife is not seen, but he married for a second wife, June 16, 1736, Mrs. Dorcas (Gould) Buxton, widow of Anthony Buxton of Salem.
He bought land in Lynn and evidently removed there, but record of his death is not seen, though he was living in March, 1744, but at the time his widow made her will, Jan. 13, 1746-7, he was deceased.
The children of Joshua and Ann (Walcott) Felt are:
i. Moses, b. Dec. 22, 1714, d. June 13, 1780; mar. June 5, 1748, Mary Pette.
ii. Aaron, b. Jan. 21, 1715-16; mar. (1)Mercy Waite; (2) Hannah Atwell.
iii. Jonathan, b. June 3, 1719, d. May 16, 1786; mar. (1)Feb. 5, 1747, Lovewell Wells, b. June, 1719, d. Aug. 8, 1764; (2)May 15, 1765, Mrs. Mary McLane, who died Apr. 12, 1785.
iv. Ann, b. about 1722, d. Andover, Oct. 12, 1816, aged 94 year; mar. Andover, Dec. 5, 1745, Robert Russell, bap. Jan. 21, 1722, buried Jan. 4, 1794.
There may have been other children."

Does that sound more logical?

Dave