Yes, I think it is a collar tie. In some ways similar to the roofs we had on one of the mills we finished earlier this year. In the case of our roofs new ties had to be installed further up with paired "boiler plate" truss extensions fixed one each side of the original trusses, through bolted to a bolted and plated apex with new collar ties installed further up nearer the ridge, before the old collar ties were cut. I think you could do something similar, possibly with the new (doubled-up) collar tie directly supporting the king post providing the queen posts and the primary beam below them are big enough to carry the redistributed load. In our roof the trusses terminated in timber blocks fixed at either end of primary beams which spanned the building. Not sure why yours really needs the king post - is there anything on the floor below that to take the load from it, or is it just transferring load into the primary beam?
The first photo just about shows the boiler plating and replacement collar ties at a higher level
You can make out where we trimmed back the old collar ties to make it look neater together with a couple of the new collar ties in the background
The second photo shows the knee brace, truss and queen post arrangement which is similar to your roof
As you can see, the timbers and bolts are fairly substantial.
As catlad says, though, don't attempt this without stripping the roof first
Sorry the photos aren't the best (I have trimmed them to take out a lot of extraneous detail), but I wasn't trying to capture the collar ties at the time - it's just luck that I did