HAS he, or hasn't he? That is the question all Fijians are asking about their national hero Waisale Serevi, who is said to have signed professional forms with an Australian rugby league club. The Fiji rumour mill says he has switched codes, and a press report last week said he has already put pen to paper, quoting a senior Australian league official. Still, Serevi denies everything. The sevens magician, who helped Fiji to three successive Hong Kong Sevens titles between 1990 and 1992, has promised his fans that he will return to the territory next year. Promises that come amid sworn statements from rugby league officials and people supposedly in the know that he is committed to Australian expansion team the Brisbane Crushers for the start of the 1995 season. Australian rugby league supremo Keith Arthurson has added another twist to the mystery by saying Serevi will be part of the Fijian team competing in February's Sydney League Sevens. Is Serevi a loyalist to the Fiji sevens cause; to the coaches who helped him attain hero status in Fiji, and to the forces that keep him financially stable playing rugby for motor giants Mitsubishi in Japan? Or is he a liar? One Fijian journalist has certainly lost respect for Serevi. He said: ''No one trusts him any more. Unfortunately, he has tasted stardom and the high life. ''He says one thing to someone and then says the opposite to someone else.'' Another rugby writer was more sympathetic. ''If he has signed for rugby league, then he is doing what's best for him. Everything points to him already having signed, but he has not confirmed it. ''His wife denies it while his father has said he would support his son in whatever decision he makes. ''One thing is for sure. If he goes, it will be a huge loss to Fijian rugby union. The people still love him.'' From a humble water meter reader in Suva, Serevi is now a prized employee at Mitsubishi, for whom his resume read only ''rugby union fly-half, specialising in sevens''. It is a relaxing lifestyle between the months of May and October. The mornings are spent learning Japanese at his leisure and after lunch, he is free to do what he wants, usually sitting at a desk chatting to his Fijian teammate and 1992 Hong Kong Player of the Tournament, Mesake Rasari. Evening is devoted to training and then he is off to his dormitory in Ukyoku, Kyoto. During afternoon office hours, he may receive reverse-charge calls from his bride of six months, Karalaini, a childhood sweetheart who is now a military officer. She knows not to call him at the dormitory, as the one communal phone is often busy and the officer in charge cannot speak English or Fijian. But the six months away from home is worth it for Serevi as he is now financially better off. And he stands to become even more wealthy if he lines up for the Crushers for the start of the 1995 Winfield Cup competition. However, right up to the present moment, Serevi says he is as confused as everyone else. ''I haven't signed for any rugby league team,'' he said. ''I was asked by one team to play for them, but I told them that I was not ready at the moment. ''I will be playing in the Hong Kong Sevens. In fact, I'm returning to Fiji next week as the sevens season is just about starting there.'' Serevi, who played for Suva last season, will this year turn out for Nabua, coached by his uncle, who is closely related to his Fijian teammates, the Raulunis, Vesi and Veli. His immediate plans to play the Fijians sevens season can be taken as something of a reassurance that he is, indeed, starting his build-up for the prestigious Hong Kong Sevens. It is the tournament which provided the stage for him to become an international star. It is also the tournament, some say, which is to blame for his alleged interest in rugby league. Serevi was twice voted Best and Fairest Player of the tournament. This year, virtuoso performances in the quarter-final and semi-final, when he carried the Fijian team on his shoulders, made him a hot favourite for an unprecedented third title. However, the prize went to Lolani Koko, the giant centre who helped Western Samoa to victory over Fiji in a bruising final. It is alleged that the panel of judges voted for Serevi but were overruled by influential figures from the Hong Kong Rugby Football Union. One panel member, respected rugby journalist Clem Thomas, of The Observer, said outright that he voted for Serevi and was under the impression that the Fijian had won it until moments before the winner was announced at the post-tournament dinner. Three months after the tournament, when the first reports of a rugby league move surfaced, Fijian sevens manager Jo Sawailu was quoted in a newspaper article as saying that Serevi's decision to switch codes was sparked by the Hong Kong Sevens debacle. Ilaitia Tuisese, one of Serevi's former coaches and confidante, said his former protege was deeply hurt. But he added that if Serevi has made promises to play at next year's event, his fans should wait until the March 26-27 tournament to see if he shows his face before passing judgment. ''If he promises that he'll be there, then I think people should wait for him to turn up,'' Tuisese said. ''It's his promise and it's up to the people if they want to trust him. ''I know he was upset by what happened in Hong Kong. He was the best player in the tournament. No one would argue with that.'' On the contrary, some people did. And it would be a tragedy if one of the greatest players to grace the Hong Kong Sevens has, in fact, decided to turn his back on rugby union because of interference from people outside the judging panel. Panel member Thomas said: ''If someone wins a race, you don't give first prize to the person who came in second''. It is the hope of all Hong Kong Sevens fans that Serevi chooses to run that race at least one more time.