Ah, when you said 'cranked' I though you meant maxed out, as in clockwise, as in all the damping. Which would be 'over damped'
There are a few things that could be going on. Measure your eye to eye on the shock, you may have overfilled the negative chamber (not something you would have done, it just happens) and it's not equalizing for some reason. Could be as simple as grease in the exchange port between the two chambers. Taking the sleeve off and resetting would fix it. Take the air out first.
Squishing may be a few things:
1) oil breaking down enough that you have bubbles or a messed up seal that's allowed air in.
b)Something came loose or broke on the piston head and is just all (to use a technical term) cattywhompus.
An oil change would find any of these.
edit: dammit joE!
Besides the comet that killed the dinosaurs nothing has destroyed a species faster than entitled white people.-ajp
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