Yes, all that sounds fine. An enolate is a carbon oxygen single bond, carbon carbon double bond, and a negative charge on the oxygen (C=C-O-), so this is not technically an enolate. The chemistry is similar, though. The alpha carbon atom is the nucleophile. However, in this system, there's another double bond in conjugation (C=C-C=C-O-H). This makes the gamma carbon nucleophilic. It is definitely plausible for the lone pair on oxygen to reform a carbon-oxygen double bond and move electrons to the alpha-beta carbon atoms. The electrons in the double bond of the beta-gamma carbon can then pick up a proton from H3O+ as you mentioned. The oxygen atom is probably still protonated at this point. Then a water molecule acts as a nucleophile and picks up that proton from the positively charged oxygen atom. Now your double bond is in conjugation - which should make the system lower in energy and therefore favorable.
I don't know much about the properties of steroid systems, so unfortunately I can't help you much with following. You might be able to follow by NMR or GC, though.