Hi Brian,
in my long reply I partly addresses that. The following is based on logic, rather than me actually knowing anything about how basalt through Gabbro and peridotite (last is mantle mineral) deform.

I said that if you squeeze an oceanic plate interior, it may well contract permanently, and it may also store elastic strain. But the forces on plate boundaries may not change much over tens of millions of years (for some plates, for Gulf of California it changes radically over the last 10 million years).

So, once squeezed, the plate will stay squeezed and nothing changes, except at plate boundaries. I'll run this by Island Wife but not sure she will know.

It seems more likely that what you suggest will cause some displacement over tens of millions of years rather then the 10 years that many continuous GPS stations have been running. Could cause some errors in global plate circuits?

Also, back when I took plate tectonics with Tanya Atwater, they still did not have a good explanation for the bend of the Hawaian-Emperor sea mount chain (at about 42 million years). Again I will have to ask IW/HW what the latest explanation for that is. I know that some hotspots migrate but that bend is large and also sharp.