The pair believe an overhaul is required at Sheffield Wednesday this summer.
The former West Bromwich Albion manager was in temporary charge before Alan Pardew's appointment.
Megson stepped in for two matches between the reigns of Tony Pulis and Alan Pardew at West Bromwich Albion.
The former Sheffield Wednesday player and manager was discussing the Owls' struggles on Monday.
Several supporters of West Bromwich Albion have called for Gary Megson to come back to The Hawthorns and save their Premier League skin.
Carvalhal's fate as Sheffield Wednesday manager could be decided after Saturday's visit of Middlesbrough.
Megson returned to his old workplace to watch Sheffield Wednesday's 2-2 draw with Hull City on Saturday.
Megson, who left West Bromwich Albion last week, was present as Sheffield Wednesday drew 2-2 with Hull City at Hillsborough.
Sam Field has been something of a revelation since returning to the West Bromwich Albion first-team.
Megson picked up Sheffield Wednesday in 12th position and took them to third before his sacking a year later.