Yes, it is! Re-read the article dedicated to "femur":
http://en.wiktionary.org/wiki/femur
"Femur" stands for "thigh", "the upper part of the thigh", or "the
loins", and, figuratively, the capacity to bear children (just like the
expression "birthing hips").
So far, so good.
This is supported by the close affinities
of Latin words related to "femur" and "femina". This link is confirmed
by the Ancient Greek root of the latter word, "φύω", which means "to
produce", hence "to give birth".
Where are you getting this from? It's not in the Wiktionary article and not in the
Wikipedia article either. As I said, the Wiktionary articles give different
etymologies and make clear that short e and long ē have different origins.
And φύω doesn't fit either of them at all! Latin f at the beginning of a word does correspond to φ, θ and
χ, so the φ fits, although the Wiktionary etymologies for both femur and fēmina mean that Greek homologs (cognates) of
those words would begin with θ instead. The rest doesn't even begin to match: you'd expect fu-, fuv- or fus- in Latin, not femin- or
fēmin-. This is like trying to homologize the crest of bone on the head of an oviraptorosaur [desperate attempt to stay on topic]
with a crest of feathers on the head of a bird! :-)
I suspect in fact that this is where originated the myth of the birth of
Dionysos... a mere play on words!
Why would a Greek myth come from a play on Latin words?
See the Lewis and Short for more details:
Not a word on etymology there.