We saw these yesterday in a shallow puddle of water on a glade on Johnson Mountain which is the most northwest of the St. Francis Mountains.
I am pretty sure they are spring peeper eggs, as they were making lots of noise before we walked up on them. I never saw the frogs.
Seems to me your guess is right. Reminds me of having them in my grade school classroom, watching them hatch & turn to tadpoles — and we released them when the legs started to form. But that was a long time ago!