Oakleaf...Thanks for the stimulating conversation on a boring day. I should be working.
Consider that a tire is designed to take up load/bumps (energy) at the front of the contact patch...and release that energy at the end of the contact patch.
If your tire pressure is above that on the engineered chart.... the energy will not be taken up by the tire...it will pass THROUGH the tire, into the fork, frame and YOU where you absorb it (convert it, actually) with your body (same as a tire with a very stiff sidewall (like an Armadillo) ....THUS never being returned to the road through the back of the contact patch = HIGHER rolling resistance not lower.
The other consequence here is that the weight of the bike and your body are forced to travel up/down/up/down with every imperfection in the road as opposed to that mass traveling on an even plane.
My turn for conjecture... it must take MUCH more energy to have you and the bike move up and down than it does to move it smoothly down the road.