The Kraken comes from Scandinavian rather than Greek myth, and legends of the Trojan War do not include a monster like this or a related curse. The god Poseidon did control a sea monster, though in certain legends he unleashed it against Troy, not the Greeks. There is a sea monster named Scylla who attacked Odysseus during his travels though, but it is left out of this film.
According to Homer, Odysseus left Troy with a dozen ships and scores of men, rather than the tiny boat and three men as depicted here. The men all suffered tragedies along the way, leaving Odysseus as the sole survivor.
In Homer's Odyssey, it is not a wedding shawl but a burial shroud for Odysseus' father Penelope insists on weaving before she will marry.