At this point, are you favoring just polishing up what you have the best you can and keeping it?
If it were me I'd do that. Polish, apply a protective coating, and enjoy a sparkly stem pipe.
Yes, this is what I did with that pipe. I polished it with a coat or two of carnauba wax and mineral oil and no oxidation has risen to the surface yet.
For starters stop soaking stems unless you know what you’re doing. If you are using the wrong stuff you make oxidation deeper every time you soak.
This is what I suspected after the first round of soaking. Rather than finding less oxidation when I sanded it, I found more. If oxidation begins with UV light exposure, you would expect it to be heaviest on the outside and get lighter as it works its way into the material. (I'm thinking of rust as a comparison here.)
Steve Laug mentioned that bleach will create pitting, which makes sense on such a soft and fragile material. You would keep eating the material down if you repeated bleach soaks.
But how do we explain that oxyclean (or vinegar, for example) might worsen oxidation? Is this a seepage effect, something like the oxidation becomes liquefied and can then seep further down between these vulcanite "cells?"
I understood oxyclean to loosen oxidation on the surface level so it could be sanded away more easily. It surprised me that it appeared to be "wicking" oxidation out of the stem, endlessly. If it dissolves/liquefies it and somehow then aids seepage further into the material that would make sense.