Been almost a week, but since no one asked a thing, I will try to precise what Parallo said.
It may be hard to exaplain. Pantheism is about belief in a god, which presence is shown in the nature. The only way i could be true for CO is that Aiwendil be one, but Aiwendil is merely a spirit, if we try to compare this state to a state of a god. So not exactly Pantheism.
But Aiwendil is kind of idol to many, an individual worth following after. And so her teaching. She show herself in any form in the nature and speak through it. It may be why she is identified with the nature, like in Pantheism, but not a god and so no religion. Like i explained in previous post, this space is filled with something else.